02:23 PM EDT, 08/09/2024 (MT Newswires) -- Health care stocks were higher Friday afternoon, with the NYSE Health Care Index rising 0.8% and the Health Care Select Sector SPDR Fund (XLV) adding 0.3%.

The iShares Biotechnology ETF (IBB) was easing 0.2%.

In corporate news, Eli Lilly ( LLY ) shares jumped 5.5% after it was named "top pick" by Morgan Stanley. The investment firm said the company has the "strongest growth profile" within its coverage universe. Morgan Stanley reiterated its overweight rating on the stock and raised the price target to $1,106 from $1,083.

Revance Therapeutics ( RVNC ) shares jumped past 18%. The company reported a Q2 net loss of $0.36 per diluted share, narrowing from a $0.80 per-share loss a year earlier. Analysts polled by Capital IQ expected a per-share loss of $0.48.

AirSculpt Technologies ( AIRS ) said Friday it has named Chief Financial Officer Dennis Dean as the interim chief executive of the company. Its shares were rising 3.8%.