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Health Care Sector Update for 09/29/2017: ZYNE,PTCT,NNVC

Top Health Care Stocks

JNJ +0.39%

PFE +0.20%

ABT -0.50%

MRK -0.42%

AMGN +0.53%

Health care stocks continued to build on modest gains from earlier this afternoon into Friday's close, with the NYSE Health Care Index rising over 0.4% while shares of health care companies in the S&P 500 were up almost 0.6% as a group at the bell.

In company news, Zynerba Pharmaceuticals ( ZYNE ) slumped Friday, with shares of the specialty drugmaker dropping almost 10% today despite analysts at Piper Jaffray today raising their investment recommendation for the company's stock to Overweight from Neutral.

The upgrade follows the company yesterday reporting its ZYN002 cannabidiol gel met its primary endpoint during Phase II testing, with 46% of the pediatric and adolescent patients with Fragile X syndrome showing a statistically significant improvement in anxiety, depression and mood symptoms after 12 weeks of treatment.

In other sector news,

(+) PTCT, Ten of the 11 members on an FDA advisory panel vote to recommend additional testing of the company's ataluren drug candidate despite inconclusive results from prior clinical trials for the prospective treatment for an inherited form of muscular dystrophy.

(-) NNVC, Reports $15.1 million in cash reserves, which the company said should be adequate to fund testing leading to clinical trials of its prospective treatments for herpes viruses for about one year, adding it will need to raise more money to develop an FDA-approved medication.

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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