Health Care Sector Update for 11/30/2018: SRRA,SNDX,MRTX

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Top Health Care Stocks

JNJ -0.41%

PFE -0.33%

ABT +1.13%

MRK -0.45%

AMGN +0.51%

Health care stocks were mixed to unchanged in Friday’s early market.

Among health care stocks moving on news:

(-) Laboratory Corp. of America Holdings ( LH ) declined over 5% in pre-market trading after Friday cutting its FY18 earnings outlook, citing lower-than-expected volume growth for its LabCorp Diagnostics unit. The company is now expecting non-GAAP net income in a range of $10.95 to $11.05 per share, down from its prior range expecting between $11.25 to $11.45 per share and trailing the Capital IQ consensus by at least $0.30 per share.

In other sector news:

(+) Sierra Oncology ( SRRA ) saw upside pre-market, up 9% at one point, after reporting positive preclinical data for its SRA737 drug candidate and saying the novel oral Chk1 inhibitor showed significant anti-tumor activity for small-cell lung cancer.

(=) Syndax Pharmaceuticals ( SNDX ) was flat pre-market after 683 Capital Management late Thursday disclosed owning 1.245 million Syndax shares, equal to a 5.0% stake in the biotechnology company.

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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