Markets

Health Care Sector Update for 10/11/2018: CRSP,TRXC,SEM,BOLD

Top Health Care Stocks

JNJ -1.30%

PFE -2.90%

ABT +0.08%

MRK -1.67%

AMGN -2.55%

Health care stocks were mostly lower again, including a 0.6% decline for the NYSE Health Care Index in recent trading. Shares of health care companies in the S&P 500 also were down nearly 1.0% as a group while the Nasdaq Biotechnology index was slipping almost 0.5%.

Among health care stocks moving on news:

(+) CRISPR Therapeutics AG ( CRSP ) soared early Thursday, rising more than 13% before giving back most of that initial advance. The US Food and Drug Administration late Wednesday lifted a clinical hold in place since May on testing of the company's CTX001 investigational treatment of sickle cell disease. The company is expecting to begin a phase I/II trial of CTX001 with sickle cell patients before the end of the year. It is also now enrolling patients with transfusion-dependent thalassemia for a separate phase I/II study in Europe.

In other sector news:

(+) TransEnterix ( TRXC ) shares were almost 11% higher in recent trading, climbing back to within close range of their session high that followed the company receiving FDA 510(k) clearance for its 3-millimeter diameter surgical instruments as well as for its additional 5-millimeter Senhance System instruments.

(-) Select Medical Holdings ( SEM ) was fractionally lower Thursday afternoon, reversing a small opening gain after saying its Q3 revenue is expected to narrowly trail the Capital IQ consensus for the three months ended Sept. 30. The acute-care hospital chain is projecting revenue for the just-completed reporting period in a range of $1.26 billion to $1.27 billion, lagging the $1.28 billion analyst mean.

(-) Audentes Therapeutics ( BOLD ) was 11% lower in recent Thursday trading, earlier falling more than 14% after the gene-therapy company priced a $150.8 million public offering of 5.2 million shares of its common stock at $29 apiece, representing a 2.8% discount to Wednesday's closing price.

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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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