Health Care Sector Update for 01/04/2019: TNDM,FLKS,SYNH

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Top Health Care Stocks

JNJ +1.7%

PFE +2.24%

ABT +3.12%

MRK +3.00%

AMGN +3.68%

Health care stocks were rising, including a 2.9% gain for the NYSE Health Care Index in recent trade. The shares of health care companies in the S&P 500 were up 3.3% as a group while the Nasdaq Biotechnology index was climbing over 5.2%.

Among health care stocks moving on news:

(+) Tandem Diabetes Care ( TNDM ) rose 9% in recent trading. The company late Thursday said it named Rebecca Robertson – the founder and managing director at Versant Ventures – as a Class II independent director to serve on the medical device company’s board.

In other sector news:

(+) Flex Pharma ( FLKS ) was almost 43% higher in Friday trade, easing from a more than 80% spike earlier in the session, after agreeing to a merger with privately held oncology drugmaker Salarius Pharmaceuticals. Flex Pharma shareholders will own 19.9% of the combined companies at closing, which is expected before mid-year.

(+) Syneos Health ( SYNH ) was 9.5% higher in recent trading after the clinical research organization said it will be sharing new research and insights at the Biotech Showcase and the Digital Medicine & Medtech Showcase events beginning Monday in San Francisco. The events run parallel to the J.P. Morgan Healthcare Conference also in San Francisco next week.

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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