Top Health Care Stocks
Health care stocks retreated Monday, with the NYSE Health Care Index (^NYP) dropping nearly 1.0% this afternoon while the shares of health care companies in the S&P 500 (XLV) also were down just 1.0% as a group. The Nasdaq Biotechnology index (^NBI) was falling more than 0.7%.
Among health care stocks moving on news:
(-) Tilray (TLRY) fell over 5% after the Canadian cannabis company Monday said it has signed a definitive agreement with 77% shareholder Privateer Holdings extending the lock-up period and establishing an orderly process for the distribution of 75 million Tilray shares now held by Privateer to its individual stakeholders. The companies June 10 announced a non-binding letter of intent for the proposed transaction.
In other sector news:
(+) Acadia Pharmaceuticals (ACAD) raced as much as 85% higher to $43.98 a share after the company Monday said its pimavanserin drug candidate met its primary endpoint during phase III testing, with patients with dementia-related psychosis who were treated with the drug demonstrating a "highly statistically significant" longer time to relapse compared with patients treated with a placebo.
(+) Acadia Healthcare Co (ACHC) was 6% higher in Monday trade after a new regulatory filing showed CEO Debra Osteen last Thursday bought another 20,000 shares of the inpatient psychiatric services company's common stock last Thursday at an average price of $26.53 a share. Following her $530,660 purchase last week, Osteen now directly owns 117,178 Acadia shares.
(-) Repligen Corp (RGEN) declined 12.5% on Monday. S&P Dow Jones Indices late Friday said the biotechnology company will move up from the S&P SmallCap 600 indices to the S&P MidCap 400, effective with the start of regular trading on Monday, Sept. 23.
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