The health care sector closed the day up 0.1%. BioDelivery Sciences International Inc ( BDSI), Aoxing Pharmaceutical Company Inc ( AXN), NeurogesX Inc ( NGSX), and Escalon Medical Corporation ( ESMC) were all decliners today within the health care sector with Cardiome Pharma ( CRME) being today's featured health care loser. Cardiome Pharma fell 10 cents (-2.9%) to $3.32 on average volume. Throughout the day, 378,504 shares of Cardiome Pharma exchanged hands as compared to its average daily volume of 261,500 shares.

Cardiome Pharma Corp., a life sciences company, engages in developing proprietary drugs to treat or prevent cardiovascular and other diseases. Cardiome Pharma has a market cap of $221.9 million and is part of the drugs industry. The company has a P/E ratio of 363, above the S&P 500 P/E ratio of 17.7. Shares are down 46.7% year to date as of the close of trading on Wednesday.

TheStreet Ratings rates Cardiome as a hold. The company's strengths can be seen in multiple areas, such as its good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and notable return on equity. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and deteriorating net income.

On the positive front, ProPhase Labs Inc ( PRPH), Cardium Therapeutics Inc ( CXM), Galena Biopharma Inc ( RXII), and Senesco Technologies Inc ( SNT) were all gainers within the health care sector with Merck & Co Inc ( MRK) being today's featured health care sector winner.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the health care sector could consider Health Care Select Sector SPDR ( XLV) while those bearish on the health care sector could consider ProShares Ultra Short Health Care ( RXD).
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