Biotech Trading Notes: AEGR, ARRY, CLVS, REGN, RPRX- Update 1 Market Rallies Post FED

No Taper Rallies Stocks and Bonds-Equities up almost 1%

Most sectors and stocks turned bright green after FED announces “No Taper”.

Biotech stocks are up with IBB up 1%. Drug stocks very strong due to dividend plays and lower 10 year yield (2.724%).

Gold up $34 with weak dollar.

Oil up 2.63% on energy stocks follow.

No inflation pressure.

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IBB and XBI flat to down

The biotechnology sector is holding up well in a choppy market ahead of FED, but with notable action in several stocks:

Aegerion Pharmaceuticals (AEGR $80.92) is down over 6% on heavier than normal volume. The stock made a double top in the mid-90s and is a favorite of several hedge funds and even Fidelity. The stock was $30 in Q1 2013. Support level is $81 then $70.

Array (ARRY $6.41) is up 2.89% on good volume near 2013 high of $7.

Clovis Oncology (CLVS $73.59) is up 1.6% and stable after announcing it was up for sale yesterday. CLVS is a “junior” mid cap with a $2B +valuation with 4 Phase 1 drugs but none in Phase 2.

Regeneron (REGN $305) continues to soar even over $300 up 3% today. Cramer is pumping the stock again today.

Repros Therapeutics (RPRX) soared 8% on more clinical data for Androxal for testosterone replacement therapy.

ARRY and REGN are Rayno focus stocks.

 

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