BOSTON (AFX) -- Drug stocks finished in the red Monday while Amgen gained on an analyst upgrade.
The Amex Pharmaceutical Index edged down 0.4% to close at 325.12 and the Amex Biotechnology Index was down 1% at 626.15 following an unusually placid trading morning for the sectors on Wall Street.
Amgen advanced after analysts at Wachovia upgraded the stock to outperform. Amgen closed up modestly at $67.79 after hitting a session high of $68.59.
Forest Labs rose 2 % after analysts at UBS upgraded their rating on the stock to buy, only to reverse direction later in the day. The stock closed down 1% at $37.69.
ViroPharma climbed 2% to $9.45. The vaccine developer unveiled positive Phase I data for its hepatitis C treatment HCV-796 this weekend at the annual scientific meeting Digestive Disease Week. The drug is being co-developed with Wyeth. This story was supplied by MarketWatch. For further information see www.marketwatch.com.
The Amex Pharmaceutical Index edged down 0.4% to close at 325.12 and the Amex Biotechnology Index was down 1% at 626.15 following an unusually placid trading morning for the sectors on Wall Street.
Amgen advanced after analysts at Wachovia upgraded the stock to outperform. Amgen closed up modestly at $67.79 after hitting a session high of $68.59.
Forest Labs rose 2 % after analysts at UBS upgraded their rating on the stock to buy, only to reverse direction later in the day. The stock closed down 1% at $37.69.
ViroPharma climbed 2% to $9.45. The vaccine developer unveiled positive Phase I data for its hepatitis C treatment HCV-796 this weekend at the annual scientific meeting Digestive Disease Week. The drug is being co-developed with Wyeth. This story was supplied by MarketWatch. For further information see www.marketwatch.com.