buy modafinil adelaide Update-1…. 45 Minutes Before the Close 6/9…Risk On
Biotech stocks soared today right at the open after news of $3.9B Idenix deal news was out. The XBI was up 5.4% on good volume. The XBI is more equal weighted and sensitive to mid and small cap stock moves.The PBE another more speculative ETF was up 7.5%. Large cap biotechs were weaker and Gilead (GILD) was down over 4% on expected HCV drug competition in the long term. Most stocks in the Rayno Life Science Portfolio were up with smaller caps leading the way:
ACHN, AMRI, SGEN and SQNM. follow url PCYC was up 3.6% to $96.93.
Earlier this year there was a lot of hype on M&A potential without any significant deals although “inversion” deals like Pfizer (PFE) going after Astra Zeneca (AZN) and Valeant (VRX) going after Allergan (AGN) . This Merck (MRK) deal shows greater impact on the overall biotech market and trading because it is lower in the food chain and strategic in nature. For example the speculation on the next HCV play is revving up with one of our picks Achillion (ACHN) up 50% to $4.33.
follow Idenix (IDIX) Stock Up 234% in Pre-Market
HCV data brings round of bidders for Phase 2 HCV pipeline.
Achillion (ACHN) also up 31% in pre-market to $3.78.
Update later. Expect small and mid cap biotech rally.