Sector Update: Healthcare Stocks Rise Late Afternoon

MT Newswires Live08-08

Healthcare stocks rose late Friday afternoon, with the NYSE Healthcare Index adding 0.4% and the State Street Health Care Select Sector SPDR ETF (XLV) up 0.6%.

The iShares Biotechnology ETF (IBB) climbed 2%.

In corporate news, Doximity (DOCS) reported higher fiscal Q1 revenue late Thursday, beating consensus but adjusted earnings missed estimates. On the company's post-earnings conference call, per a FactSet transcript, Chief Executive Jeffrey Tangney said the revenue that Doximity's new AI search tool is generating is 10 times what it costs to run. Doximity shares surged 36%.

Pulse Biosciences (PLSE) shares jumped past 9% in Friday trading, a day after the company reported its Q2 results.

Neurocrine Biosciences (NBIX) shares gained 2.8% after the company said Friday it has started a phase 1 first-in-human trial of NBIP-1968, an experimental drug for obesity.

ANI Pharmaceuticals (ANIP) shares were down 5.9% even after it posted higher Q2 adjusted earnings and net revenue.

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