Top Health Care Stocks
Health care stocks still were drifting lower on Friday, including a nearly 0.7% decline for the NYSE Health Care Index while the shares of health care companies in the S&P 500 also were down over 0.6% as a group. The Nasdaq Biotechnology index was falling more than 0.9%.
Among health care stocks moving on news:
(-) Seattle Genetics (SGEN) rose over 4% after Goldman Sachs Friday raised its investment recommendation for the cancer medicines company to buy from neutral previously and increased its price target for the company's stock by $22 to $100 a share.
In other sector news:
(+) Gossamer Bio (GOSS) climbed nearly 7% after a new regulatory filing showed CEO Sheila Gujrathi bought another 10,000 of the company's shares at an average price of $16.80 apiece, increasing her indirect stake in specialty drugmaker to nearly 4.05 million shares, including stock scheduled to vest over the next three years.
(-) Vaccinex (VCNX) dropped 5% this afternoon. The biotechnology company on Friday said interim data from phase Ib/II testing of its pepinemab drug candidate in combination with a previously approved chemotherapy showed 59% of patients with non-small cell lung cancer appeared to benefit from the combination compared with Bavencio alone.
(-) Precipio (PRPO) turned sharply lower this afternoon, sinking 13.5% and giving up an early 12.8% advance. The cancer diagnosis surged on Thursday after it said several large laboratories have completed validation studies of company's IV-Cell cytogenetics media product and its HemeScreen Assay. The labs were "proceeding toward placing orders" after first exhausting their existing inventories, the company said.