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Health Care Sector Update for 03/05/2019: AMRN,ACB,ACB.TO,ADMS

Top Health Care Stocks

JNJ +0.23%

PFE -0.24%

ABT -0.15%

MRK +0.43%

AMGN -0.07%

Health care stocks were mixed this afternoon, including a 0.4% gain for the NYSE Health Care Index in recent trade. Shares of health care companies in the S&P 500 were up 0.2% as a group while the Nasdaq Biotechnology index was up 0.3%.

Among health care stocks moving on news:

(+) Amarin ( AMRN ) climbed 5.5% after late Monday disclosing plans to discuss new data from phase III testing evaluating how a combination of its Vascepa drug candidate and a statin therapy works to reduce the number of total ichemic events in patients with elevated cardiovascular risk compared with patients in a control group treated with statin and a placebo at the American College of Cardiology's annual scientific session in New Orleans beginning March 16.

In other sector news:

(+) Aurora Cannabis ( ACB ) rose over 8% after Cowen & Co. Tuesday began coverage of the medical and recreational marijuana company with an outperform rating and a $14 price target.

(-) Adamas Pharmaceuticals ( ADMS ) slumped Tuesday, sinking nearly 31%, after at least three research analysts lowered their stock ratings for the specialty drugmaker after i t report ed Q4 financial results. Adamas posted a Q4 net loss of $1.06 per share during the three months ended Dec. 31 compared with a $1.27 per share loss during the year-earlier period and beating the Capital IQ consensus expecting a net loss of $1.33 per share.

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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