Markets

Health Care Sector Update for 07/29/2016: SNMX,SNSS,MCRB

Top Health Care Stocks

JNJ +0.59%

PFE +0.48%

MRK +0.65%

ABT +0.34%

AMGN +0.19%

Health care stocks were moderately higher on Friday, with the NYSE Health Care Index rising 0.4% while shares of health care companies in the S&P 500 were up about 0.2% as a group.

In company news, Senomyx Inc. ( SNMX ) shares were surging Friday after the biotech company reported Q2 financial results topping Wall Street estimates and forecast a smaller Q3 net loss than the analyst mean.

Senomyx recorded a $0.05 per share net loss for the three months ended June 30, a penny less than the Capital IQ consensus. Revenue grew 6.5% year over year to $6.6 million, also exceeding the $6.18 million Street view.

The company also is projecting a net loss of no more than $0.07 per share on around $5.7 million in revenue for the current reporting period. Analysts, on average, are expecting Senomyx to post an $0.08 per share net loss on $5.98 million in revenue.

SNMX shares were up more than 14% at $3.14 each, previously topping out today at $3.35 a share.

In other sector news,

(+) SNSS, (+24.5%) Reports Q2 net loss of $0.12 per share, coming in $0.02 per share larger than Street view. Revenue falls 33.3% from year-ago levels to $600,000 mln, trailing the $700,000 two-analyst estimate.

(-) MCRB, (-69.8%) SER-109 drug candidate fails to meet primary endpoint of reducing the recurrence of Clostridium difficile infection in patients during ongoing Phase 2 testing.

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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