Top Health Care Stocks
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.