Health Care Sector Update for 01/10/2019: AMRN,PFE,HALO,PRPO,CGIX
Top Health Care Stocks
Health care stocks still were little changed this afternoon, including a less than 0.1% decline for the NYSE Health Care Index in late. Shares of health care companies in the S&P 500 were up almost 0.1% as a group while the Nasdaq Biotechnology index was climbing about 1.2%.
Among health care stocks moving on news:
(+) Amarin Corp ( AMRN ) climbed almost 23% at one point on Thursday on speculation the biopharmaceuticals company is being eyed as a potential buyout target by Pfizer ( PFE ) in a bid to acquire Amarin’s Vascepa fish-oil cardiac medication. According to a StreetInsider report, Pfizer views Amarin and Vascepa as a good fit with its cardovascular franchise.
In other sector news:
(+) Precipio ( PRPO ) was over 53% higher on Thursday after the cancer diagnostics company said it has been selected as a vendor for the US Department of Defense, allowing Pentagon-funded medical centers to use Precipio technology in mutation testing for both active-duty military and veterans.
(+) Halozyme Therapeutics ( HALO ) rose over 5% in recent trading after the biotechnology company Wednesday afternoon said it expects its FY19 revenue in a range of $175 million to $185 million, excluding any revenue from its new ENHANZE global collaboration and licensing agreements. Analysts, on average, are projecting $153.9 million in revenue for the company this year.
(-) Cancer Genetics ( CGIX ) dropped 17% on Thursday after the molecular diagnostics company priced a $3 million public offering of 13.3 million shares of its common stock at 22.5 cents apiece.
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