Sector Update: Health Care Stocks Decline Late Afternoon

MT Newswires Live
15 Feb

Health care stocks were lower late Friday afternoon, with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each shedding about 0.9%.

The iShares Biotechnology ETF (IBB) eased 0.2%.

In corporate news, enGene (ENGN) shares fell past 7% after UBS downgraded the stock to neutral from buy and cut its price target to $7 from $34.

Moderna (MRNA) reported a Q4 loss of $2.91 per share, worse than the $2.83 loss expected in a FactSet poll. Revenue was $966 million, better than the consensus estimate of $942.8 million. Its shares gained about 4%.

OS Therapies (OSTX) shares jumped 12%. The firm said it signed agreements for the commercial-ready manufacturing of OST-HER2 to support anticipated Biologics Licensing Authorization filing.

West Pharmaceutical Services (WST) shares popped past 7%. Deutsche upgraded the stock to buy from hold while lowering its price target to $250 from $275.

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