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Health Care Sector Update for 05/21/2019: ARRY,AMRX,OCUL

Top Health Care Stocks

JNJ +0.20%

PFE +0.13%

ABT +0.69%

MRK +0.74%

AMGN +0.65%

Health care stocks were rising, including a nearly 0.8% gain for the NYSE Health Care Index in recent trade. Shares of health care companies in the S&P 500 also were up more than 0.9% as a group while the Nasdaq Biotechnology index was climbing almost 1.9%.

Among health care stocks moving on news:

(+) Array BioPharma (ARRY) raced 21.5% higher after Tuesday announcing positive interim results from phase III testing of a combination of its Braftovi BRAF inhibitor, Mektovi MEK inhibitor and Erbitux anti-EGFR antibody, meeting both primary endpoints of confirmed objective response rate and a statistically significant improvement in overall survival in patients with BRAFV600E-mutant metastatic colorectal cancer following one or two prior lines of therapy.

In other sector news:

(+) Amneal Pharmaceuticals (AMRX) climbed 11% on Tuesday after Raymond James raised its investment recommendation on the specialty and generics drugmaker to strong buy from a previous call of market perform.

(-) Ocular Therapeutix (OCUL) dropped 26% after the biopharmaceuticals company said its OTX-TP experimental treatment for glaucoma did not meet its primary endpoint, failing to demonstrate a statistically superior mean reduction of intraocular pressure compared with patients in the placebo group. Raymond James and Cowen both downgraded the company's stock.

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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