Markets

Health Care Sector Update for 08/02/2018: IRTC,DNLI,EXAS

Top Health Care Stocks

JNJ 0.00%

PFE -1.59%

ABT +0.05%

MRK -0.46%

AMGN 0.00%

Health care stocks were mixed just ahead of Thursday's opening bell.

Among health care stocks moving on news:

+ iRhythm Technologies ( IRTC ) was up more than 8% ahead of Thursday's opening bell after the cardiac care company reported better-than-expected Q2 revenue. It also is projecting FY18 revenue in a range of $138 million to $141 million, exceeding the analyst mean by at least $4.21 million. Its net loss for the three months ending June 30 widened to $0.51 per share from $0.29 per share last year and trailing the Capital IQ consensus expecting a $0.39 per share quarterly loss.

In other sector news:

+ Denali Therapeutics ( DNLI ) jumped out to a more than 8% advance in early trading Thursday after reporting positive results from Phase I testing of its DNL201 drug candidate, with the small-molecule inhibitor of leucine-rich repeat kinase 2 achieving its safety, pharmacokinetic and pharmacodynamic objectives in patients with Parkinson's disease. The company now expects to begin a Phase Ib study before the end of the year in Parkinson's patients with either or without the genetic LRRK2 mutation.

- Exact Sciences ( EXAS ) fell nearly 14% early Thursday after the molecular diagnostics company reported Q2 revenue lagging the $104.4 million Street view by around $1.5 million. It also recorded a net loss of $0.30 per share for the April-to-June reporting period, expanding on a $0.27 per share loss last year but beating the Street view expecting a $0.33 per share net loss.

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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