Health Stocks to Watch

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Canopy Growth Corporation (CGC) rose 88 cents to $21.13 on 6.7 million shares Thursday. The company announced a new hemp-derived CBD product line.  The stock bounced off the bottom of its declining channel last month, and has since been consolidating before breaking out of the channel earlier this week.  A move through recent highs in the $21.50-.70 area could lead to our next target of $26.

Mallinckrodt plc (MNK) jumped 33 cents, or nearly 10%, to $3.69 on 7.6 million shares Thursday.  The UK-based biopharmaceutical company last week announced findings on a novel predictive model to more quickly identify infants with a rare seizure disorder.  A break through lateral resistance in the $4-$4.15 range could accelerate the stock to $5.25.

ProQR Therapeutics N.V. (PRQR) popped 95 cents, or nearly 11%, to $9.73 on 396,600 shares Thursday.  The biotech company, which is developing RNA medicines to treat severe genetic rare diseases, announced the first patient dosed in a phase 1/2 eye disorder study.  Thursday’s move broke the stock above lateral resistance.  Watch for a quick test of $10.25 next, a break through which could lead to $12.

ShockWave Medical, Inc. (SWAV) climbed $2.17 to $43.99 Thursday on 819,600 shares, more than 1 1/2 times its average volume.  The move, on no news from the medical device company, positioned the stock right at lateral resistance.  A follow-through could take it to the top of its 2 1/2-month rising channel in the $45-$46 zone.

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