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Health Care Sector Update for 11/20/2018: A,ORPN

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Top Health Care Stocks

JNJ -0.47%

PFE -1.18%

ABT -1.86%

MRK -1.72%

AMGN +1.13%

Health care stocks were declining Tuesday, including a 1% drop for the NYSE Health Care Index in recent trade. Shares of health care companies in the S&P 500 also were down 0.8% as a group, while the Nasdaq Biotechnology index was falling nearly 0.2%.

Among health care stocks moving on news:

(+) Agilent Technologies ( A ) raced 7% higher after the diagnostics firm beat Wall Street expectations on both its top and bottom lines during its Q4 ended Oct. 31 and guided its FY19 earnings at least $0.03 per share higher than the $2.97 per share Street view. Excluding one-time items, net income grew 21% over year-ago levels to $0.81 per share and exceeded the Capital IQ consensus by $0.07 per share. Revenue rose 9% year-over-year to $1.29 billion from $1.19 billion last year and also topping the $1.26 billion analyst mean.

In other sector news:

(+) Bio Blast Pharma ( ORPN ) surged 48% Tuesday before drifting off that level to a gain of about 17%, after the early-stage biotechnology company announced plans for a reverse merger with privately held immunotherapy company, Enlivex Therapeutics. Financial terms of the proposed transaction were not disclosed, but Enlivex equity holders are expected to own about 96% of the combined companies, subject to customary adjustments and prior to any concurrent financing.

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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