Top Healthcare Stocks
Health care stocks were broadly higher with the NYSE Health Care Sector Index advancing 0.6% and shares of health care companies in the S&P 500 up 0.5% as a group.
In company news, Celldex Therapeutics ( CLDX ) rose Monday after the drugmaker announced positive interim results from Phase II testing of its rindopepimut immunotherapy combined by Roche's ( RHHBY ) Avastin to treat glioblastoma, delaying tumor growth and extending survival in patients with the form of brain cancer.
Following the CLDX announcement, analysts at Roth Capital raised their price target for the stock by $3 to $43 a share, reiterating their Buy rating.
CLDX shares were up more than 29% at $18.33 each, earlier climbing to a session high of $19.48 a share. The stock has traded within a 52-week range of $10.76 to $33.33, falling 24% over the past year.
In other sector news,
(+) ACT, Climbs to a record high after announcing $66 bln cash-and-stock buyout for Allergan plc ( AGN ) in a deal appearing to have thwarted a hostile takeover bid for AGN by Valeant Pharmaceuticals (VRX,VRX.TO). AGN also reaches all-time high.
(-) INO, Ends joint venture with Roche ( RHHBY ) to develop its INO-5150 Hepatitis B experimental immunotherapy. Plans Phase I clinical trial beginning during first six months of 2015.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.