Markets

Health Care Sector Update for 03/04/2019: ASND,CSII,NTRI,TVTY,NITE,INO

Top Health Care Stocks

JNJ +0.15%

PFE -1.01%

ABT -0.51%

MRK -0.67%

AMGN -1.18%

Health care stocks extended their prior declines, including a more than an 1.1% drop for the NYSE Health Care Index in recent trade. Shares of health care companies in the S&P 500 also were down over 1.6% as a group while the Nasdaq Biotechnology index was falling over 1.2%.

Among health care stocks moving on news:

(+) Ascendis Pharma A/S ( ASND ) rose over 82% to a record high of $126.44 a share after Monday saying its once-weekly TransCon growth hormone was superior to a daily growth hormone during phase III testing, with children with pediatric growth hormone deficiency treated with the biotechnology company's TransCon growth hormone growing by an average of 11.2 centimeters over the course of 52 weeks compared with 10.3 centimeters in children treated with the once-daily growth hormone.

In other sector news:

(+) Nightstar Therapeutics ( NITE ) jumped over 66% on Monday after the clinical-stage biotech company agreed to an $877 million buyout transaction from Biogen ( BIIB ), which will pay $25.50 in cash for each Nightstar share, representing a 68.2% premium over Friday's closing price.

(+) Cardiovascular Systems Inc. ( CSII ) was climbing 10.5% after the medical device company was picked to join the S&P SmallCap 600 index next Monday, March 11, replacing Nutrisystem Inc. ( NTRI ), which is being acquired by Tivity Health (TVTY) in a deal expected to close in coming days.

(-) Inovio Pharmaceuticals (INO) dropped almost 4% after beginning enrollment for the second round of phase III testing of its VGX-3100 DNA-based immunotherapy to treat cervical dysplasia caused by the human papillomavirus.

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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