Health Care Sector Update for 11/09/2018: ACET,ACRX,NTRA

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Top Health Care Stocks

JNJ +0.07%

PFE +1.37%

ABT -0.73%

MRK -0.22%

AMGN -1.40%

Health care stocks were lower this afternoon, including a slightly more than 0.3% decline for the NYSE Health Care Index in recent trade. Shares of health care companies in the S&P 500 were down nearly 0.8% as a group, while the Nasdaq Biotechnology index was slipping more than 2.6%.

Among health care stocks moving on news:

(-) Aceto ( ACET ) dropped to its lowest share price in more than 25 years, falling nearly 25% to $1.53 a share, after the specialty drugmaker swung to a big net loss during its fiscal Q1. The company reported a $0.59 per share net loss, reversing a $0.01 per share profit during the same quarter last year while net sales dropped to $164.4 million from $185.3 million a year earlier. The company also said it was not providing financial guidance while it continues with its strategic review.

In other sector news:

(-) AcelRx Pharmaceuticals ( ACRX ) slumped 18% on Friday after announcing plans to sell a yet-to-be-determined number of its shares through an underwritten public offering. AcelRx also said it expects to issue a 30-day option for the underwriters to buy up to an additional 15% of the offered shares.

(-) Natera ( NTRA ) dropped 34% at one point on Friday after reporting a wider-than-expected Q3 net loss and revenue trailing Wall Street expectations as well as providing an FY18 revenue outlook falling short of analyst estimates. The genetic testing company posted a $0.49 per share net loss on $65.3 million in revenue compared with the Capital IQ consensus expecting a $0.48 per share net loss on $66.4 million in revenue. It also is projecting FY18 revenue in a range of $250 million to $260 million, lagging the Street view.

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: ACRX , NTRA

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