Health care stocks traded mixed Tuesday as the broader market dipped and rose in wide swings.
Amgen (AMGN - Get Report) rose on the release of study data that showed denosumab, its experimental drug designed to grow bone, reduced the risk of new spine and hip fractures by 68% and 40%, respectively, compared to placebo, in post-menopausal women. Amgen shares gained $3.70, or 6%, to $65.89.
Amgen is a component of both the Amex biotechnology index, which climbed 2.3% to 810.10, and the Amex pharmaceutical index, which edged down 0.1% to 297.62.
Shares of Targacept (TRGT) and AstraZeneca (AZN - Get Report) traded lower after the two reported post-close Monday inconclusive results for a phase IIb clinical trial of AZD3480 to treat mild to moderate Alzheimer's disease. AstraZeneca said it will decide on potential further development of AZD3480 in December. Targacept sank $2.58, or 30.5%, to $5.88, while AstraZeneca lost 59 cents, or 1.3%, to $44.35.