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

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Top Health Care Stocks

JNJ +0.23%

PFE +0.83%

ABT -0.10%

MRK -0.44%

AMGN -1.41%

Health care stocks have turned mixed this afternoon and still over-performing most other sectors today. At last look, the NYSE Health Care Index was up less than 0.1% in recent trade while. shares of health care companies in the S&P 500 were down nearly 0.2% as a group. The Nasdaq Biotechnology index still was slipping more than 1.9% in late trade.

Among health care stocks moving on news:

(+) Jazz Pharmaceuticals ( JAZZ ) climbed as much as 5% on Friday, overcoming a slightly more than 1% decline earlier in today's session, after overnight saying it has filing an application with European regulators seeking marketing authorization for its solriamfetol medication to improve wakefulness and reduce excessive daytime sleepiness in adult patients with narcolepsy or obstructive sleep apnea. The U.S. Food and Drug Administration in March accepted a similar application from the company and is scheduled to decide on whether to approve the selective dopamine and norepinephrine reuptake inhibitor for use by Americans on or before Dec. 20.

In other sector news:

(-) AcelRx Pharmaceuticals ( ACRX ) slumped over 18% on Friday after announcing plans to sell 12.6 million shares at $3.15 apiece.

(-) Aceto ( ACET ) dropped to its lowest share price since December 1990, falling nearly 25% to $1.53 a share, after the specialty drugmaker swung to a big net loss during its fiscal Q1 following an 11.3% drop in sales compared with year-ago levels. 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 last year. Analyst estimates were not available. The company also said it was not providing financial guidance while it continues with its strategic review.

(-) Natera ( NTRA ) dropped over 33% 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 during the three months ended Sept. 30 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 by at least $3.1 million.

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: JAZZ , ACRX , NTRA

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