Sector Update: Health Care Stocks Higher But Biotechs Losing Steam in Late Trade

Last Updated: Monday, June 21, 2021 3:51 PM | MT Newswires

Health care stocks were on course to end higher this afternoon, with the NYSE Health Care Index and the SPDR Health Care Select Sector ETF rising 1.3% each.

The Nasdaq Biotechnology index was climbing 0.4%, losing steam in late regular-hours trade.

In company news, FIGS (FIGS) gained almost 16% after Oppenheimer Monday began coverage of the company with an outperform rating and a $45 price target.

MediciNova (MNOV) rose 11.5% after announcing positive data from phase II testing of its Ibudilast drug candidate, with prospective treatment for alcohol use disorder reducing the odds of heavy drinking across time by 45% compared with a placebo without a significant effect on negative mood. Ibudilast also lowered alcohol craving compared to placebo on non-drinking days, the company said.

Auris Medical Holding (EARS) climbed 6.6% after Monday publishing positive results showing its OligoPhore peptide carrier inhibited tumor growth in mouse models of adult T-cell leukemia lymphoma.

Natera (NTRA) was 6% higher after SVB Leerink increased its price target for the molecular diagnostics company by $20 to $160 a share while Wells Fargo Monday also raised its price target for Natera shares by $15 to $125 each. Both brokerages also reiterated their respective outperform ratings for the stock.

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