Sector Update: Health Care Stocks Holding Slight Gains; Achillion Pharmaceuticals Still Rising Following Q2 Results
Top Healthcare Stocks
Healthcare stocks were holding on to small gains today with the NYSE Healthcare Sector Index rising just 0.1% while shares of healthcare companies in the S&P 500 were also ahead about 0.1% as a group.
In company news, Achillion Pharmaceuticals Inc. ( ACHN ) rose for a second day Monday, extending its gains that followed the drug-maker late last week reporting a smaller Q2 net loss than analysts were expecting.
The company late Thursday posted a Q2 net loss of $15.7 million, or $0.16 per share, improving on a $19.9 million net loss last year and beating the Capital IQ consensus by $0.02 per share. It did not report any revenue during the quarter, as expected.
ACHN shares were up more than 3% in late trade at $7.60 apiece, earlier climbing to an intra-day high of $8.24 a share soon after today's opening bell and adding to a 5.1% advance during Friday's session. The stock has traded within a 52-week range of $2.26 to $8.61 a share, climbing nearly 19% in value over the past 12 months.
In other sector news,
(+) PIP, Delaware Court of Chancery late Friday orders SIGA Technologies to pay PharmAthene lump sum expectation damages for lost profits linked to SIGA's smallpox antiviral.
(-) AEGR, Announces plans for $250 mln private placement of convertible senior notes due 2019. Proceeds will be used to repurchase up to $35 mln of its common stock.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.