Sector Update: Healthcare Stocks Advance Wednesday Afternoon

01:38 PM EDT, 09/02/2026 (MT Newswires) -- Healthcare stocks were higher Wednesday afternoon, with the NYSE Healthcare Index adding 0.7% and the State Street Health Care Select Sector SPDR ETF (XLV) up 0.6%. The iShares Biotechnology ETF (IBB) increased 0.4%. In corporate news, Johnson & Johnson (JNJ) is positioned for accelerating growth, supported by a strong pharma pipeline, UBS said in a note. UBS assumed coverage of the stock with a buy rating and a $320 price target. Its shares rose 1.3%. Alumis (ALMS) shares climbed 10%. The company's share price drop after the disappointing results of a phase 2b trial of envudeucitinib to treat systemic lupus erythematosus was likely an overreaction, Oppenheimer said in a note. Oppenheimer kept Alumis' outperform rating, while lowering the company's price target to $37 from $55. Telix Pharmaceuticals (TLX) said it completed patient enrollment for a phase 3 study of its commercial PSMA-PET imaging agents Illuccix and Gozellix in prostate cancer imaging in pre-biopsy setting. Telix shares jumped 5.2%.