03:58 PM EDT, 08/12/2026 (MT Newswires) -- Healthcare stocks were higher late Wednesday afternoon, with the NYSE Healthcare Index up 0.2% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 0.3%.

The iShares Biotechnology ETF (IBB) rose 0.5%.

In corporate news, Merck ( MRK ) shares rose 2.4% after Daiwa upgraded the stock to outperform from neutral and raised its price target to $143 per share from $120.

Cencora ( COR ) said that certain Walgreens volume that was being serviced by the company, separate from the prime vendor agreement, has started moving outside the company from July 1. Meanwhile, Cencora ( COR ) said its prime vendor agreement remains unchanged and accounts for the majority of its business with Walgreens. Cencora ( COR ) shares fell past 5%.

Legend Biotech ( LEGN ) could see pressures from competition and recent leadership change, potentially weighing on Carvykti myeloma therapy strategy, Oppenheimer said. It downgraded Legend to perform from outperform. Shares fell 5.2%.

Definium Therapeutics ( DFTX ) shares rose 5% after the firm said its phase 3 trial of DT120 orally disintegrating tablets in adults with generalized anxiety disorder met its primary endpoint.