The pre-ASCO hype has already begun but many biopharma stocks have already run up 15%+ YTD. So it is time to be cautious as there may be an “ASCO Effect”- a sell on the news effect.
Despite a weak tape in the major indices the life science sector has a lot of green.
Today there were some good moves in the Rayno Life Science Portfolio: Albany Molecular (AMRI), Biogen (BIIB), Cardiovascular Sciences (CSII) Exact Sciences (EXAS), Gilead (GILD),Regeneron (REGN), SuperGen(SUPG) and Targacept (TRGT).
Acorda(ACOR) was up 15% today on MS drug approval in Europe. Biogen-Idec will market the drug paying Acorda royalties.
Some of the biopharmaceutical stocks on the ASCO radar are as follows:
ARIA, ECYT, EXEL, IMGN,INCY, NKTR, OXGN, SUPG….more on these later.