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Health Care Sector Update for 09/10/2019: XERS,NKTR,PHR,AGIO

Top Health Care Stocks

JNJ +1.44%

PFE +0.94%

ABT -2.04%

MRK -3.03%

AMGN -3.29%

Health care stocks added to their mid-day declines, with the NYSE Health Care Index slipping over 0.3% this afternoon while the shares of health care companies in the S&P 500 were down nearly 0.2% as a group. The Nasdaq Biotechnology index was climbing almost 0.7%, paring a prior gain.

Among health care stocks moving on news:

(-) Xeris Pharmaceuticals (XERS) dropped over 11% on Tuesday after the US Food and Drug Administration approved the company's GVOKE injection to treat severe hypoglycemia in pediatric and adult patients. Xeris said it is expecting to begin commercial sales of its pre-filled syringes in four to six weeks and introducing an auto-injector next year.

In other sector news,

(+) Nektar Therapeutics (NKTR) rose 11%. A new regulatory filing showed Stephen Doberstein, chief scientific officer for the specialty drugmaker, bought 15,000 shares of the company's stock through a series of open-market transactions on Friday, Sept. 5, at an average price of $17.28 apiece. Following his $259,200 purchase, Doberstein directly owns 107,668 Nektar shares.

(+) Phreesia (PHR) was posting an 8.5% advance on Tuesday after the health care payments processor reported a 24.4% increase in Q2 revenue, rising to $30.8 million and beating the Capital IQ consensus by $1.8 million.

(+) Agios Pharmaceuticals (AGIO) climbed slightly more than 5% after the biotechnology company Tuesday said it will announce results from phase III testing of its Tibsovo drug candidate in patients with previously treated IDH1 mutant cholangiocarcinoma at an upcoming industry conference later this month. The afternoon presentation is scheduled for Sept. 30 at the annual meeting of the European Society for Medical Oncology in Barcelona.

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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