Health Care Sector Update for 09/14/2018: ARGX,CSBR,ALNY

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Top Health Care Stocks

JNJ -0.42%

PFE -0.05%

ABT +0.09%

MRK -0.80%

AMGN -1.10%

Health care stocks retreated Friday, including a more than 0.4% decline for the NYSE Health Care Index in recent trading. Also, shares of health care companies in the S&P 500 also were down over 0.4% as a group while the Nasdaq Biotechnology index was falling more than 0.7%.

Among health care stocks moving on news:

(+) argenx SE ( ARGX ) climbed sharply on Friday, rising almost 8% at one point, after analysts at Stifel Nicolaus initiated coverage of the biopharmaceuticals company with a buy rating and a $139 price target.

In other sector news:

(+) Champions Oncology ( CSBR ) sped to a four-year high on Friday, rising almost 30% to its highest share price since June 2014 at $11.00 each after the biotech company reported a $0.05 per share during the three months ended July 31, reversing a $0.01 per share net loss in the year-ago period, after revenue rose 23.7% year over year to $6.2 million. That beat the single-analyst call expecting a $0.01 per share profit on $5.64 million in revenue.

- Alnylam Pharmaceuticals ( ALNY ) was more than 1% higher Friday afternoon, giving back a more than 4% gain, earlier in the session that followed the company saying its Patisiran drug candidate during phase III testing showed potential to treat polyneuropathy and may favorably impact certain cardiac manifestations of hereditary transthyretin-mediated amyloidosis.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , US Markets
Referenced Symbols: ARGX , CSBR , ALNY

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