03:57 PM EST, 11/08/2024 (MT Newswires) -- Health care stocks were higher late Friday afternoon with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each rising 0.9%.

The iShares Biotechnology ETF (IBB) added 0.5%.

In corporate news, Evolent Health ( EVH ) shares plunged nearly 45% after Truist Securities cut its price target on the stock following Q3 results that trailed market expectations.

Ardelyx ( ARDX ) shares sank 20% after a federal judge dismissed the company's lawsuit against the Centers for Medicare and Medicaid Services.

Maravai LifeSciences ( MRVI ) shares tumbled 36% after it said late Thursday it has agreed to buy Officinae Bio's DNA and RNA business.

Astrana Health ( ASTH ) said Friday it has agreed to buy some businesses and assets of Prospect Health System for $745 million in a bid to expand its care provider network. Astrana shares fell past 20%.