Quantcast

Health Care Sector Update for 10/31/2018: ICPT,NUVA,EXAS,CLVS


Shutterstock photo

Top Health Care Stocks

JNJ -0.12%

PFE +0.52%

ABT +1.74%

MRK +1.19%

AMGN +2.47%

Health care stocks rose this afternoon, including a nearly 0.8% gain for the NYSE Health Care Index in late trade. Also, shares of health care companies in the S&P 500 were up almost 0.6% as a group while the Nasdaq Biotechnology index was ahead just under 0.9% today.

Among health care stocks moving on news:

(+) Intercept Pharmaceuticals ( ICPT ) rose over 13% at one point today after the specialty drugmaker earlier Wednesday reported a smaller -than-expected Q3 net loss and improved net sales. The company earned $2.18 per share, paring a $2.89 per share loss during the same quarter last year and topping the Capital IQ consensus expecting a net loss of $2.65 per share for the three months ended Sept. 30. Revenue rose to $47.0 million from $41.3 million last year but trailing the $48.2 million Street view.

In other sector news:

(+) Exact Sciences ( EXAS ) was surging in afternoon trading, earlier climbing over 19%, after reporting a Q3 net loss of $0.37 per share, expanding on a $0.23 per share during the year-ago period but still beating the Capital IQ consensus expecting a $0.43 per share net loss.

(-) NuVasive ( NUVA ) slumped Wednesday, falling over 10%, after reporting Q3 net income missing Wall Street expectations and also issuing mixed Q4 guidance. The medical device company earned $0.56 per share on $271.3 million in revenue, missing the Capital IQ consensus by $0.06 per share but beating the $265.7 million Street view for Q3 sales. NuVasive also cut its Q4 EPS forecast to a new range of $2.15 to $2.23 compared with its prior outlook expecting between $2.37 to $2.40. Analysts, on average, are expecting $2.38 per share in net income for the current quarter ending Dec. 31.

(-) Clovis Oncology ( CLVS ) dropped to a six-year low on Wednesday, sinking almost 28% and stopping just 9 cents shy of its record low of $11.65 a share, after reporting a wider-than-expected Q3 net loss along with revenue also lagging Wall Street expectations. Its Q4 revenue forecast also trailed analyst estimates.

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

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.



This article appears in: Investing , US Markets
Referenced Symbols: ICPT , EXAS , NUVA , CLVS



More from MT Newswires

Subscribe






MT Newswires
Contributor:

MT Newswires

Market News, Commodities










Research Brokers before you trade

Want to trade FX?