04:01 PM EDT, 08/28/2024 (MT Newswires) -- Health care stocks were mixed late Wednesday afternoon with the NYSE Health Care Index easing 0.2% and the Health Care Select Sector SPDR Fund (XLV) up 0.1%.

The iShares Biotechnology ETF (IBB) was shedding 0.1%.

In corporate news, Virax Biolabs ( VRAX ) shares fell 0.6%, erasing earlier gains. The company signed a distribution deal with a supplier to market RT-PCR Mpox virus detection kits in 13 European countries and members of the Gulf Cooperation Council.

Neurocrine Biosciences ( NBIX ) shares 19% as Oppenheimer cut the company's price target to $192 from $219, while keeping the outperform rating.

Avadel Pharmaceuticals ( AVDL ) shares fell 5.5% after the company scored a partial victory in a legal fight with Jazz Pharmaceuticals ( JAZZ ) over Avadel's bid to commercialize its Lumryz medication for the treatment of excessive daytime sleepiness in adults with narcolepsy. Jazz shares rose 1.5%.