Markets

Health Care Sector Update for 02/15/2017: IVTY,EVOK,CLSN

Top Health Care Stocks

JNJ +0.39%

PFE +1.52%

MRK +0.57%

ABT -1.01%

AMGN +1.10%

Health care stocks were extending their earlier advance, with the NYSE Health Care Index gaining 0.3% while shares of health care companies in the S&P 500 were up 0.6% as a group.

In company news, Invuity Inc ( IVTY ) rallied Wednesday after the surgical visualization company reported a smaller-than-expected Q4 net loss and also beating Wall Street estimates with its revenue during the same period.

The company recorded a $0.56 per share net loss for the three months ended Dec. 31, improving on a $0.76 per share loss during the same quarter last year and coming in a penny better than the Capital IQ consensus. Revenue jumped 51.6% over year-ago levels to $9.4 million, also topping the $9.15 million consensus.

Invuity also reiterated its in-line FY17 revenue outlook expecting between $42 million to $44 million for the 12 months ending in December, bridging the $42.38 million analyst mean.

IVTY shares were up over 15% at $8.00 each, backing down from a previous run as high as $8.75 a share earlier today.

In other sector news,

(+) EVOK, (+49.4%) FDA exempts the company's Gimoti drug candidate from its Human Factors Validation study requirement prior to submission of its new drug application.

(-) CLSN, (-30.7%) Prices $5 mln public offering of around 21.7 mln shares of its common stock at 23 cents apiece, a 30.3% discount to Tuesday'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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