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Sector Update: Healthcare Stocks Rise Late Afternoon

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Healthcare stocks were higher late Tuesday afternoon, with the NYSE Healthcare Index rising 1.6% and the State Street Health Care Select Sector SPDR ETF (XLV) increasing 1.2%.

The iShares Biotechnology ETF (IBB) added 1.2%.

In corporate news, GSK (GSK) said it signed a definitive agreement Tuesday to acquire Nuvalent (NUVL) for $10.6 billion in cash. GSK shares rose 1%, and Nuvalent surged 39%.

Brookdale Senior Living (BKD) has reported May occupancy data in line with bullish comments by the company's management at a recent event and ahead of levels implied in RBC's model for Q2, RBC Capital Markets said in a note. Brookdale shares jumped past 8%.

PTC Therapeutics (PTCT) shares climbed 3.3% after Citigroup upgraded the company's stock to buy and raised its price target to $108.

Eli Lilly (LLY) signed a collaboration and licensing deal worth over $1 billion with AlzeCure Pharma for global rights to its investigative candidate for Alzheimer's disease. Lilly shares were down 0.4%.

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