Health Care Sector Update for 01/10/2019: AMRN,PFE,HALO,PRPO,CGIX

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Top Health Care Stocks

JNJ +0.33%

PFE -2.65%

ABT -0.17%

MRK -1.47%

AMGN +1.19%

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.

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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