Top Health Care Stocks
JNJ -0.84%
PFE -0.63%
ABT -0.54%
MRK -1.4%
AMGN -1.43%
Health care stocks were lower late Thursday, reversing yesterday's strong advance. At last look, the NYSE Health Care Index (^NYP) was posting a 0.9% decline this afternoon while shares of health care companies in the S&P 500 ( XLV ) were down 1.0% as a group. Elsewhere, the Nasdaq Biotechnology index ( NBI ) slumped 1.8% lower.
Among health care stocks moving on news today:
+ Ampio Pharmaceuticals ( AMPE ) soared to a 17-month high on Thursday, matching its best price since June 2016 at $2.84 a share, after the drugmaker today said its Amption drug candidate reached its primary endpoint of reducing pain in patients with severe osteoarthritis of the knee. On average, responders experienced a 53% decrease in pain during the Phase III trial, also reporting a 50% improvement in function while 45% of the participants also reported an improved quality of life.
In other news:
+ American depository shares of Teva Pharmaceuticals Industries Ltd ( TEVA ) raced as much as 18% higher on Thursday after today unveiling a restructuring program expected to idle 14,000 employees - or more than a quarter of its global workforce - over the next two years and reducing its total cost base by around $3 billion by 2019.
+ ArQule ( ARQL ) enjoyed a 15% advance to reach a session high of $1.50 a share after analysts at Needham & Co. today raised their investment call for the biopharmaceutical company working to develop new treatments for cancer and certain rare diseases to Buy from Hold.
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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.
