J.P.Morgan Healthcare Conference Update #3
IBB ($248) New High Today at $249.50 Up 9% YTD–Fidelity Select Biotech (FBIOX) New All time High of $205.85 Up 19% since Dec.18!!!
Trading Opportunities-Recovery from Bottom or “Dead Cat” Bounce?
Achillion (ACHN $4.18) is up 5% today and 35% for the month. The Company gave an update of their HCV programs Monday. We added ACHN to our focus list on 3/4/13 at $8.60.
Ariad (ARIA $7.23) is up 8.6% pre-market on revised label announcement of commercial availability of Iclusib. The stock hit a low of $2.15 last quarter after safety concerns were announced on the drug.
Sarepta (SRPT $28) is up 40% since the J.P. Morgan update and study updates this week.The stock was hit on FDA delays.The former high flier hit a high of $55 last quarter then plummeted to a low of $12 in November.
ARIA and SRPT are NOT on our focus list. Update later today.
Other Rayno Life Science movers: ILMN up 8%, RGDX up 1.8% , SGEN up 1.7%.
Exelixis (EXEL $8.10) a long term core Rayno Biopharmaceutical pick is up 8.8% for the week after a number of upgrades and update of their pipeline at the J.P.Morgan Conference.
Watch close today as many stocks have turned down. NASDAQ down 0.65%
PowerShares Dynamic Biotech and Genome ETF