Health Care Sector Update for 12/28/2018: IMMU,APHA,HTGM
Top Health Care Stocks
Health care stocks were rising to finish a holiday-shortened week, including a 0.5% gain for the NYSE Health Care Index in recent trade. Shares of health care companies in the S&P 500 also were up about 0.2% as a group. Meanwhile, the Nasdaq Biotechnology index was falling 0.2%.
Among health care stocks moving on news:
(-) Immunomedics ( IMMU ) has turned about 2% lower this afternoon, giving back a nearly 9% gain soon after Friday’s opening bell that followed it disclosing a letter agreement with BSP Pharmaceuticals SpA to negotiate a definitive agreement for the Italian drugmaker to supply commercial quantities of Immunomedics’ antibody-drug conjugate sacituzumab govitecan beginning in 2019 and continuing into 2020.
In other sector news:
(+) Aphria ( APHA ) was 13% higher Friday afternoon, staying within relatively close range of its 14% peak, after Green Growth Brands went public with a CND2.8 billion takeover bid for the marijuana company. Under terms of the proposed buyout, Green Growth would swap 1.5714 of its shares for each Aphria share, representing a 45.5% premium over Aphria’s closing price on Dec. 24.
(+) HTG Molecular Diagnostics ( HTGM ) climbed 9.5% in recent Friday trading, reversing a 7% opening decline, after the company late Thursday unveiled plans to raise up to $150 million through the sale of its stock.
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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