Health Care Sector Update for 02/05/2019: ARRY,HZNP,HAE

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Top Health Care Stocks

JNJ +0.12%

PFE -0.55%

ABT +0.66%

MRK +0.40%

AMGN +0.67%

Health care stocks were narrowly higher in recent trading, including a slightly more than 0.2% gain for the NYSE Health Care Index this afternoon. Shares of health care companies in the S&P 500 also were up almost 0.1% as a group while the Nasdaq Biotechnology index was falling over 0.2%.

Among health care stocks moving on news:

(+) Array BioPharma ( ARRY ) soared to a record high on Tuesday, rising almost 12% to a best-ever $21.00 a share after the specialty drugmaker reported a fiscal Q2 net loss of $0.05 per share, easily beating the Capital IQ consensus expecting no change from its $0.17 per share loss during the year-ago period. Total revenue rose 95.5% year over year to $82.5 million compared with $42.2 million last year, also exceeding the $52.4 million analyst mean.

In other sector news:

(+) Horizon Pharma plc ( HZNP ) climbed 4% on Tuesday after a new stock ownership filing showed that funds affiliated with Blackrock ( BLK ) acquired an additional 551,278 Horizon shares during 2018, increasing its equity stake in the drugmaker to just under 13.9 million shares, equal to 8.3% of the company’s outstanding stock.

(-) Haemonetics Corp ( HAE ) slumped Tuesday, recently falling 13%, after the hematology products company reported a rise in fiscal Q3 revenue to $247.4 million from $234 million last year but still lagging the $250.1 million Street view.

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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