Markets

Health Care Sector Update for 05/13/2015: WX, MGLN, AAVL

Top Health-care stocks:

JNJ: flat

PFE: +0.2%

ABT: flat

MRK: flat

AMGN: +0.6%

Health-care shares were generally unchanged in pre-market trade Wednesday.

In health-care stocks news, WuXi PharmaTech ( WX ) Wednesday reported it has formed a special committee of independent directors to evaluate a non-binding going-private transaction proposed by founder, chairman and CEO Dr. Ge Li, and Ally Bridge Group Capital Partners.

Shares in the company were trading 5.9% higher at $45.50 during pre-market trading . Over the past 52 weeks, the company has traded between $29.84 and $45.42.

Meanwhile Magellan Health Services ( MGLN ) shares were upgraded by Jefferies Group to buy from hold.

Shares in the company were unchanged at $62.13 during pre-market trading. Over the past 52 weeks, the company has traded between $52.37 and $71.83.

And Avalanche Biotechnologies ( AAVL ), a clinical-stage biotechnology company, Wednesday said net loss for Q1 2015 was significantly wider at $9.5 million, or $0.38 per diluted share, relative to $1.7 million, or $0.45 per diluted share, of the same prior-year period.

Shares in the company were also unchanged at $33.88 during pre-market trading. Over the past 52 weeks, the company has traded between $22 and $62.48.

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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