Sector Update: Healthcare

03:31 PM EDT, 10/02/2026 (MT Newswires) -- Healthcare stocks were lower late Friday afternoon, with the NYSE Healthcare Index down 0.1% and the State Street Health Care Select Sector SPDR ETF (XLV) decreasing 0.2%. The iShares Biotechnology ETF (IBB) was shedding 0.5%. In corporate news, Legend Biotech's (LEGN) multiple myeloma therapy Carvykti is facing growing competitive pressure as Gilead Sciences' (GILD) anito-cel approaches a potential approval and Johnson & Johnson's (JNJ) Tec-Dara gains traction, UBS Securities said in a report. UBS lowered its price target on Legend stock to $24 from $28 and maintained its neutral rating. Legend shares were down 3.8%.