Health Winners & Losers: Amgen
Health care stocks traded mixed Tuesday as the broader market dipped and rose in wide swings.
Amgen (AMGN) 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) 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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV