Top Health Care Stocks
JNJ -0.86%
PFE -0.45%
ABT -0.69%
MRK -1.4%
AMGN -1.2%
Health care stocks have reversed Wednesday's strong advance, with the NYSE Health Care Index showing a 0.5% decline Thursday while shares of health care companies in the S&P 500 were down nearly 0.5% as a group. Elsewhere, the Nasdaq Biotechnology index ( NBI ) raced over 1.2% higher today.
Among health care stocks moving on news Thursday:
+ Microbot Medical ( MBOT ) climbed almost 14%, touching a session high of $1.16 a share, after saying federal authorities have granted a US patent for its TipCAT technology platform. The new patent is actually a continuation of a June 2015 patent previously awarded to the medical device company and covers its process of using a series of chambers inside a hollow passageway - which, when inflated - applies pressure to the passageway and grips guidewires or other objects trended through the device.
In other news:
+ American depository shares of Teva Pharmaceuticals Industries Ltd ( TEVA ) raced as much as 18% higher Thursday after 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. 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.
