Neurocrine Biosciences Inc NBIX:NASDAQ

Last Price$75.10NASDAQ Previous Close - Last Trade as of 4:00PM ET 1/21/22

Today's Change+2.30(3.16%)
Bid (Size)$72.00 (10)
Ask (Size)$75.10 (61)
Day Low / High$72.83 - 75.84
Volume1.2 M

Sector Update: Health Care Stocks Pare Gains Ahead of Close Tuesday

3:59PM ET 11/02/2021 MT Newswires
Health care stocks were well off their best levels of the day ahead of Tuesday's close, with the NYSE Health Care Index up 0.6% while the Health Care Select Sector SPDR ETF (XLV) and the Nasdaq Biotechnology index gained 0.4% each.

In company news, R1 RCM (RCM) shares climbed nearly 12% after the provider of revenue cycle management software to health care companies reported Q3 revenue exceeding Wall Street views and raised its FY21 revenue forecast above analyst expectations. The company also authorized a new $200 million stock buyback program.

Endo International (ENDP) rose 8.3% after a California state judge ruled late Monday several local governments failed to prove the company and three other drug makers created a public nuisance by using deceptive marketing to mislead doctors and patients about the risk of opioid addiction. The shares of the other defendants in the $50 billion lawsuit -- Teva Pharmaceutical Industries (TEVA), Johnson & Johnson (JNJ) and AbbVie (ABBV) -- also advanced Tuesday, adding 7.7%, 1.7% and 1.8%, respectively.

Neurocrine Biosciences (NBIX) slid more than 10% after late Monday reporting adjusted Q3 net income of $0.64 per share, reversing an $0.18 per share loss during the same quarter last year but still trailing the Capital IQ poll consensus by $0.16 per share. Revenue grew 14.5% year-over-year to $296 million, also lagging the $297.5 million Street view.

Clene (CLNN) dropped more than 11% after saying its CNM-Au8 drug candidate did not meet primary or secondary endpoints during phase 2 testing in patients with early amyotrophic lateral sclerosis, failing to produce statistically meaningful change in a measure of nerve and muscle function in the arms and legs as well as a measure of lung capacity, respectively, compared with a placebo after 36 weeks.