Health Care Sector Update for 01/21/2016: ECYT,TROV,ALKS
Top Health Care Stocks
Health care stocks were narrowly higher just before Thursday's closing bell, with the NYSE Health Care Index adding 0.3% while shares of health care companies in the S&P 500 were up just 0.1% as a group.
In company news, Endocyte ( ECYT ) shares advanced Thursday after Credit Suisse began analyst coverage of the biotech company with an Outperform rating.
The move follows a federal court in Indiana Jan. 5 dismissing without prejudice a shareholder class action lawsuit filed in 2014 against Endocyte as well as several executives and directors at the company and giving the plaintiffs until Feb 1 to demonstrate sufficient facts for an amended pleading or face a dismissal with prejudice.
ECYT shares closed almost 17% at $3.42 each, following a run as high as $3.50 a share earlier today.
In other sector news,
(+) TROV, Signs agreement with America's Choice Provider Network allowing for access to its entire suite of circulating tumor ctDNA Precision Cancer Monitoring tests and services.
(-) ALKS, Announces topline results from Phase III testing of its ALKS 5461 drug candidate in patients with major depressive disorder, with a greater placebo response and no treatment effect of ALKS 5461 observed.
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