Top Health Care Stocks
Health care stocks rose to finish a holiday-shortened week, including a nearly 0.3% gain for the NYSE Health Care Index in late trade. Shares of health care companies in the S&P 500 also were up about 0.1% as a group while the Nasdaq Biotechnology index was slipping almost 0.2%.
Among health care stocks moving on news:
(+) Alnylam Pharmaceuticals ( ALNY ) received a nearly 3% boost on Friday after the genetic therapies company said it would provide preliminary Q4 sales levels for its Onpattro drug treatment for hereditary transthyretin-mediated amyloidosis on Jan. 7 at the J.P. Morgan Healthcare Conference in San Francisco. Federal regulators signed off on U.S. sales of the small interfering ribonucleic acid as a treatment for nerve damage caused by the genetic neurodegenerative disease on August 10.
In other sector news:
(+) vTv Therapeutics ( VTVT ) was more than 120% higher shortly before Friday's closing bell after it exercised an option requiring the MacAndrews & Forbes Group to buy 815,217 shares of its class A common stock at $1.84 per share, representing a nearly 79% premium over Thursday's closing price for vTv shares. vTv and the holding company owned by billionaire investor Ron Perelman announced a $1.5 million funding agreement on Dec. 11.
(+) Aphria ( APHA ) was 12% higher Friday afternoon, staying within relatively close range of its 14% peak, after Green Growth Brands went public with a CND2.8 billion takeover bid for the marijuana company. Under terms of the proposed buyout, Green Growth would swap 1.5714 of its shares for each Aphria share, representing a 45.5% premium over Aphria's closing price on Dec. 24.
(+) HTG Molecular Diagnostics ( HTGM ) climbed 8% in recent Friday trading, reversing a 7% opening decline, after the company late Thursday unveiled plans to raise up to $150 million through the sale of its stock.
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