Markets

Health Care Sector Update for 12/31/2018: HLTH,ACST,ACST.V,ADMP,MBOT

Top Health Care Stocks

JNJ +1.16%

PFE +1.13%

ABT +1.10%

MRK +1.03%

AMGN +1.63%

Health care stocks posted solid gains this afternoon, including a nearly 1.1% advance for the NYSE Health Care Index in late trade and was appeared ready to finish 2018 with a more than 7.5% gain. Shares of health care companies in the S&P 500 were up over 0.9% on Monday, helping extend a slightly more than 3% advance for the past 12 months.

Among health care stocks moving on news:

(+) Nobilis Health ( HLTH ) climbed over 45% at one point on Monday after saying it has entered into an in-network contract beginning early next year at Plano Surgical Hospital in suburban Dallas with one of the nation's largest commercial payors. Financial terms of the new contract were not immediately disclosed.

In other sector news:

(+) Acasti Pharma (ACST,ACST.V) rose over 13% on Monday after the Canadian biopharmaceuticals company said late-stage testing of its CaPre drug candidate to treat patients with severely high levels of triglycerides in their blood have both exceeded 65% patient randomization. Acasti has enrolled around 1,500 patients at 150 locations in the United States, Canada and Mexico for the two Phase III trials, up from 1,450 on Dec. 20.

(+) Adamis Pharmaceuticals ( ADMP ) climbed 7% Monday after the specialty biopharmaceuticals company submitted a new drug application for its tadalafil erectile dysfunction medication to the US Food and Drug Administration.

(-) Microbot Medical ( MBOT ) slid almost 11% lower at one point on Monday after the micro-robotics assisted medical technologies firm disclosed plans to sell over 6.02 million units each consisting one share of Microbot common stock along with a warrant to buy another share.

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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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