Markets

Health Care Sector Update for 01/26/2017: VRTX,AVGR,ENTL

Top Health Care Stocks

JNJ -0.34%

PFE +0.21%

MRK +1.61%

ABT -0.03%

AMGN -0.42%

Health care stocks still were extending their prior declines Thursday, with the NYSE Health Care Index in a 0.3% slump while shares of health care companies in the S&P 500 were down about 0.5% as a group in recent trade.

In company news, Vertex Pharmaceuticals ( VRTX ) shares were staying within easy reach of their session high Thursday after the specialty drugmaker reported Q4 net income beating Street views.

Excluding one-time items, the company earned $0.35 per share, exceeding the Capital IQ consensus by $0.06 per share. Revenue matched Vertex' pre-announcement expecting $453 million, edging past the $447 million consensus.

Vertex last night reiterated its 2017 revenue guidance for ORKAMBI of between $1.1 billion to $1.3 billion and net product revenue of $690 million to $710 million for its KALYDECO segment. It also reaffirmed its outlook for FY17 combined non-GAAP research and development and R&D and sales, general and administrative costs.

VRTX shares were up about 0.3% at $85.44 each, backing down from a prior climb to a session high of $86.86 a share.

In other sector news,

(+) AVGR, (+30.4%) Reports positive two-year data from phase III testing of its lumivascular technology using catheters and light to observe and treat circulatory problems while minimizing blood vessel damage.

(-) ENTL, (-14.7%) Prices $60 mln public offering of 3.53 mln shares at $17 apiece, a 12.3% discount to Wednesday's closing price.

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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