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Health Care Sector Update for 05/24/2019: ARWR,AXSM,SURF,YI

Top Health Care Stocks

JNJ +0.28%

PFE +0.24%

ABT +1.80%

MRK +0.42%

AMGN -0.07%

Health care stocks maintained their mid-day advance, with the NYSE Health Care Index climbing over 0.6% while shares of health care companies in the S&P 500 also were up almost 0.4% as a group. The Nasdaq Biotechnology index was climbing over 0.7%.

Among health care stocks moving on news:

(+) Arrowhead Pharmaceuticals (ARWR) rose about 10% and hit an intraday high of $24.29 a share, after the specialty drugmaker joined the S&P SmallCap 600 index with the start of Friday's regular session.

In other sector news:

(+) Axsome Therapeutics (AXSM) rose more than 4% after saying board member Mark Saad acquired 3,500 shares of the company's common stock on May 13, paying $22.33 for each share and boosting his overall ownership stake to 7,002 shares.

(+) Surface Oncology (SURF) was over 1% lower in late trading after the immuno-oncology company said updated pre-clinical results support anti-tumor mechanism programs designed to treat cancer. The company said the new data back its CD73 and CD39 programs and its approach to targeting the adenosine axis, demonstrating the anti-tumor effects of increasing inflammation and reducing extracellular adenosine in the tumor microenvironment.

(-) 111 Inc (YI) was down more than 2% late on Friday after the Chinese health care platform said it was starting a "diagnosis + medication + payment" closed loop system with privately held MSH, a provider of international health care services. The new system would provide online diagnoses, prescription purchase and delivery along with refills, health monitoring and other patient management services.

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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