Markets

Health Care Sector Update for 06/30/2017: REGN,SNY,SKLN,CARA

Top Health Care Stocks

JNJ +0.02%

PFE +0.06%

ABT -0.12%

MRK -0.19%

AMGN -0.01%

Health care stocks were slightly higher today, with the NYSE Health Care Index rising over 0.1% while shares of health care companies in the S&P 500 were up almost 0.3% as a group.

In company news, Regeneron Pharmaceuticals ( REGN ) declined Friday, at one point falling over 3.5% to a session low of $491.87 a share despite analysts at BTIG Research today raising their price target for the drugmaker's stock by $60 to $540 a share, also reiterating their Buy recommendation.

The move follows European regulators earlier this week giving marketing clearance to a combination of Regeneron's Kevzara and Sanofi's ( SNY ) methotrexate medication as a regimen for rheumatoid arthritis.

In other sector news,

(+) SKLN, Expects full European rollout of its Streamway direct-to-drain fluid disposal system by early 2018.

(-) CARA, High doses of CR845 drug candidate results in reduced pain in 34% of patients with hip or knee osteoarthritis compared with a placebo but lower doses fail to reach primary or secondary endpoints during Phase IIb testing. Price target cuts today by Stifel and Laidlaw.

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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