Stocks of healthcare companies fell as markets soured on signs that borrowing costs in the U.S. would remain elevated until inflation falls toward the Fed's 2% target.
4E Therapeutics, an Austin-based neuroscience company, said it was acquired by Eli Lilly. 4E develops treatments for chronic pain, working on compounds aimed at offering meaningful pain relief while avoiding the central nervous system effects that come with many existing therapeutics, it said.
Leerink Partners raised its price target for UnitedHealth to $462 from $400, citing higher margin forecasts for the company's Optum Health unit, which provides medical care to millions of patients.
Write to Paulo Trevisani at paulo.trevisani@wsj.com
(END) Dow Jones Newswires
