Health Care Sector Update for 01/14/2019: EXAS,MBOT,VRNA

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Top Health Care Stocks

JNJ -1.14%

PFE -1.20%

ABT -0.85%

MRK -1.74%

AMGN -1.52%

Health care stocks were weighing on the US markets this afternoon, including a 1% decline for the NYSE Health Care Index in recent trade. Shares of health care companies in the S&P 500 also were down 0.9% as a group, while the Nasdaq Biotechnology index was falling 1%.

Among health care stocks moving on news:

(-) Exact Sciences Corp ( EXAS ) was down 2.4% this afternoon. Canaccord Genuity named the molecular diagnostics company as one of its top biomedical investment picks and raised its price target on the company’s stock by $8 to $95 a share while reiterating its buy recommendation.

In other sector news:

(+) Microbot Medical ( MBOT ) has more than tripled in price on Monday, racing 275% higher, after tbe early-stage medical device compay said it has validated the operational effectiveness of its self-cleaning shunt in a recent independent in-vitro laboratory study.

(-) Verona Pharma ( VRNA ) plunged to a record low after saying its ensifentrine drug candidate failed to meet its primary endpoint during Phase II testing to evaluate the prospective treatment for moderate to severe chronic obstructive pulmonary disease.

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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