The markets traded higher during the midday with the Dow rising 22 points to 16,944. Nasdaq eased a fraction to 4,358.

On the upside

Shares of Kite Pharma (Nasdaq: KITE) surged in its market debut.

Alkermes (Nasdaq: ALKS) stock continued rising.

Bargain hunters snapped up shares of Conatus Pharmaceuticals (Nasdaq: CNAT).

On the downside

Merrimack Pharmaceuticals (Nasdaq: MACK) extended its losses.

Merger discussions between Targa Resources (Nasdaq: TRGP) and Energy Transfer Equity (NYSE: ETP) ended.

Emerge Energy Services (NYSE: EMES) priced its secondary public offering of more than 3.5 million common units at the discounted price of $109.06 per unit.

In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on both the NYSE and on Nasdaq. The broader S&P 500 edged up a point to 1960. Bitcoin slipped $5.34 or 0.91% to $587.04.