Healthcare stocks were higher late Thursday afternoon, with the NYSE Healthcare Index and the State Street Health Care Select Sector SPDR ETF (XLV) each adding 2.3%.
The iShares Biotechnology ETF (IBB) climbed 2.1%.
In corporate news, Crinetics Pharmaceuticals (CRNX) shares jumped 8% after UBS started coverage of the stock with a buy rating and a price target of $55 per share.