Health Care Sector Update for 12/01/2016: AKRX,HTBX,ARDM

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Top Health Care Stocks

JNJ +0.12%

PFE -1.80%

MRK -1.13%

ABT -0.54%

AMGN -0.93%

Health care stocks were mostly lower today, with the NYSE Health Care Index slipping about 0.6% while shares of health care companies in the S&P 500 also were down nearly 0.6% as a group.

In company news, Akorn ( AKRX ) declined Thursday after analysts at Goldman Sachs today began coverage of the specialty drugmaker With a Sell rating and a $20 price target.

The move follows Akorn early last month saying the U.S. Food and Drug Administration was planning to re-inspect its manufacturing facility in Decatur, Ill, likely delaying agency drug approvals and prompting at least two other ratings shops to downgrade the stock in recent weeks.

AKRX shares were down almost 6% at $20.01 apiece in late trade, earlier sinking to a session low of $19.92 a share.

In other sector news,

(+) BSTG, Confirms Cellspan esophageal implant receives Orphan Drug designation following substantive pre-IND meeting with the FDA. Expects to begin Phase I first-in-human clinical trial before the end of 2017.

(-) ARDM, Drops to a record low after Pulmaquin drug candidate produced widely different efficacy levels during a pair of Phase III clinical trials of the prospective treatment for chronic lung infections.

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: AKRX , HTBX ,

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