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EW

Health Care Sector Update for 01/18/2019: CRON,LLY,EW,LXRX

Top Health Care Stocks

JNJ +1.12%

PFE -0.16%

ABT +1.19%

MRK +0.15%

AMGN +0.76%

Health care stocks added to gains this afternoon, including a nearly 0.8% advance for the NYSE Health Care Index in recent trade. Shares of health care companies in the S&P 500 were up almost 1.0% as a group while the Nasdaq Biotechnology index was climbing more than 0.3%.

Among health care stocks moving on news:

(+) Cronos Group Inc ( CRON ) was more than 9% higher during Friday trading after analysts at CIBC began coverage of the Canadian medical marijuana company with a sector outperform rating and a CND22 price target.

In other sector news:

(+) Edwards Life Sciences Corp ( EW ) was 4.5% higher after analysts at Bank of America Merrill Lynch Friday raised their stock rating for the medical device company to buy from neutral and increased their price goal by $10 to $190 a share.

(-) Eli Lilly and Co ( LLY ) retreated Friday, falling almost 3%, after the company said its lartruvo drug candidate did not confirm its clincial benefit in combination with doxorubicin compared with doxorubicin alone in patients with advanced or metastatic soft tissue sarcoma. The failed phase III study will also likely lower its Q1 after-tax earnings by around $0.10 per share, the company said.

(-) Lexicon Pharmaceuticals ( LXRX ) slid 31% to a record low of $5.29 a share on Friday after an FDA advisory panel split 8-to-8 on whether the company's sotagliflozin drug candidate outweighed the risks of the prospective Type 1 diabetes treatment.

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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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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