04:01 PM EST, 11/07/2025 (MT Newswires) -- Health care stocks edged lower late Friday afternoon, with the NYSE Health Care Index shedding 0.1% and the Health Care Select Sector SPDR Fund (XLV) down 0.2%.

The iShares Biotechnology ETF (IBB) was shedding 1%.

In corporate news, Gilead Sciences (GILD) shares dropped 4.7% after the company said a phase 3 trial comparing its drug Trodelvy with chemotherapy as a first-line treatment post-endocrine therapy in HR+/HER2-negative metastatic breast cancer did not meet the primary endpoint of progression-free survival.

Moderna (MRNA) continues to target cash breakeven in 2028, banking on its ongoing cost reductions and revenue growth from geographic expansion and new product launches, Morgan Stanley said in a Friday note. The firm maintained its equalweight rating on Moderna but adjusted its price target to $30 from $32. Moderna shares were up 0.1%.

Globus Medical (GMED) can continue delivering cash flow and has the ability to compound profits higher, BofA Securities said in a Thursday note. BofA upgraded the stock to buy from neutral and raised its price target to $91 from $65. Globus shares surged 36%.

Haemonetics ( HAE ) is adopting a more cautious guidance approach following a rebound in plasma collection volumes, BofA said Thursday in a report. BofA upgraded Haemonetics ( HAE ) to neutral from underperform and raised its price objective to $75 from $58. Haemonetics ( HAE ) shares rose 2.2%.