Health Care Sector Update for 09/15/2016: LAKE,AERI,GBSN

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Health care stocks were climbing today, with the NYSE Health Care Index holding on to a 0.6% gain while shares of health care companies in the S&P 500 were up nearly 0.7% as a group.

In company news, Lakeland Industries ( LAKE ) rallied Thursday after the maker of protective equipment for medical personel reported higher-than-expected Q2 net income and revenue.

Net income from continuing operations fell to $0.20 per share during the three months ended July 31 from a $0.50 per share gain during the same quarter last year but still doubled up the $0.10 per share consensus estimate by analysts. Revenue rose 9% over year-ago levels to $22.3 million, also exceeding the Capital IQ consensus by around $300,000.

LAKE shares were up almost 13% at $10.58 apiece, earlier climbing to a session high of $10.97 a share.

In other sector news,

(+) AERI, (+45.8%) Roclatan drug candidate meets primary efficacy endpoint during Phase III testing, with the potential glaucoma therapy demonstrating statistical superiority over the market-leading latanoprost eye medication.

(-) GBSN, (-29.1%) Nasdaq stock market warns the company's stock could be delisted unless it can increase its share price above the stock exchange's $1 minimum.

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: LAKE , AERI ,

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