Healthcare Stocks couldn’t escape the miserable day in the markets on Tuesday as the sector dropped 1.45% yet a few companies managed to put together a positive day. Shinning brightest among those few was SunLink Health Systems, Inc. (AMEX: SSY) which jumped 11.40% on the day to close at 2.15. Shares in the healthcare service provider has dipped since reporting first quarter figures last week yet they managed to pass the 50-day moving average of 1.98 on Tuesday and inched closer to the 200-day moving average of 2.18.
Palomar Medical Technologies, Inc. (NASDAQ: PMTI), which designs, manufactures, markets, and sells lasers and other light-based products, and related disposable items and accessories for use in dermatology and cosmetic procedures, saw shares surge 9.79% on Tuesday to close at 13.07. With nearly 3x the average trading volume taking place on Tuesday shares climbed as high as 13.16, a six-month high, and they remain comfortably ahead of the 50-day moving average of 10.73 and 200-day moving average of 10.69.
After being upgraded from a “hold” to a “buy” by MLV Capital shares in Affymax, Inc. (NASDAQ: AFFY) climbed 9.34% on Tuesday to close at 7.26. The biopharmaceutical company, which engages in the development of drugs for the treatment of serious and life-threatening conditions, saw volume of more than 7x its trading average and sent shares as high as 7.42, a three-month high. Shares remain above the 50-day moving average of 5.59 yet trail the 200-day moving average of 13.36.
Response Genetics, Inc. (NASDAQ: RGDX), a life sciences company engaged in the research, development, marketing, and sale of clinical diagnostics and pharmacogenomic tests for use in the treatment of cancer in the United States, Europe, and Japan, saw shares push forward 8.33% on Tuesday to close at 2.46. Last week the company set a new 52-week high of 3.38 before dipping down to 2.48 by the close. RGDX remains above the 50-day moving average of 2.29 and 200-day moving average of 2.16.
In last week’s second quarter financial results AdvanSource Biomaterials Corporation (AMEX: ASB) showed a slight decrease in revenue compared to the same period last year but on Tuesday shares rose 8.11% to close at 0.20. The company, which offers polymer materials for use in the design and development of medical devices in the United States, has been trying to rebound since hitting a 52-week low of 0.12 last week. They are currently below the 50-day moving average of 0.25 as well as the 200-day moving average of 0.28.