Markets

Health Care Sector Update for 04/21/2016: BIIB,CBAY,TRXC

Top Health Care Stocks

JNJ -0.46%

PFE -0.29%

MRK -0.57%

ABT -0.18%

AMGN +0.42%

Health care stocks were mixed in afternoon trade, with the NYSE Health Care Index declining less than 0.1% while shares of health care companies in the S&P 500 were up about 0.3% as a group.

In company news, Biogen Inc. ( BIIB ) rose Thursday after the biotech conglomerate beat analyst estimates with its Q1 earnings as revenue rose compared with year-ago levels, supported by a 15% year-over-year increase in sales of its drug treatment for relapsing multiple sclerosis.

Excluding one-time items, the company earned $4.79 per share, topping the Street view by $0.32 per share. Sales climbed 6.7% to $2.73 billion, roughly in-line with the $2.75 billion consensus. In addition to $946 million in sales for its Tecfidera MS medication, revenue growth also was driven by Biogen's Eloctate hemophilia A medication and its Alprolix hemophilia B drug, partially offset by a drop in global interferon sales, the company said.

BIIB shares were up almost 5% at $278.74 each, earlier topping out at $279.36 a share.

In other sector news,

(+) CBAY, (+7.1%) Abingworth Funds discloses 6.8% passive stake, buying 1.6 mln shares, according to SEC 13G filing last night.

(-) TRXC, (-56.8%) FDA determines that the company's SurgiBot System does not meet the criteria for substantial equivalence.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

TRXC CBAY BIIB

Other Topics

US Markets

Latest Markets Videos