Healthcare stocks edged up 0.21% on Wednesday as rallies from Gilead Sciences (GILD), Johnson & Johnson (JNJ) and Pfizer (PFE) supported the broader sector. News came late Wednesday that Pharmaceutical industry tycoons are joining hands to cope with a challenge that’s long displeased drugmakers; how to enhance the method in which experimental drugs are checked so they can be accepted, and reach patients, quicker.
Having $7.7 billion in sales last year, Pfizer Inc.’s (NYSE:PFE) Lipitor, a drug used to fight cholesterol, was the leading drug on the list of prime pharmaceutical products in the US in terms of sales. The report stated that, based on sales of Lipitor, Americans are experiencing high cholesterol from ugly lifestyle and diet selections.
Shares of Pfizer (PFE) gained +0.62% on the last trading session and ended the session at 24.16 and its rivals companies Gilead and JNJ also ended the session above the trend line.
In the last trading session, Gilead Sciences, Inc. (NASDAQ:GILD) grew 0.66% and closed at $67.21 with the total traded volume of 12.56 million shares, more than the average volume of 6.19 million. Stock price 52 weeks high was $67.55 and 52 weeks low price was $34.45.
Johnson & Johnson (NYSE:JNJ) rose 0.07% and closed at $68.60 with the total traded volume of 9.91 million shares in the last trading session. JNJ is trading above 1.12% from 50 day simple moving average and higher than 6.19% from 200 day simple moving average.
Johnson & Johnson is a diverse company which is involved in R&D, manufacturing and marketing a variety of products in the healthcare sector along with its subsidiaries.
Merck & Co., Inc. (NYSE:MRK) climbed +0.98% with the closing price of $44.51. The overall volume in the last trading session was 9.82 million shares. Its fifty two week range was $30.54-$45.17. The total market capitalization remained $135.56 billion.
MRK is ahead of its 52 week low 52.20% and its last month price volatility remained 1.26%. Its beta coefficient was 0.63 with a target price of $46.61. The Company’s current year earnings per share grew 634.53% while the five year EPS growth rate was -0.04%.