1/7/19 …After Close: Most Mid-Caps held gains but check AH trading
- Selected Winners today: AGIO 8.7%, ALNY 8.75%, ARRY 8.85%, BLUE 6.67%, BPMC 14.1%, NKTR 7.83%, SGEN 5.68%, ICPT 7.28%, XBI 5.97% (closed at highs. $79.50).
- Many of these mid-caps are still at low end of 52 week range.
- Selected stocks above 52 week mid-range: ARNA ARRY ICPT,XNCR.
- Our Mid-Cap watch List will be updated at the end of the week.
Biopharma Bounce off Bottom: Mid Caps Are Strong
Biopharma stocks soared triggered by another deal-the $8B acquisition of Loxo Oncology LOXO) by Lilly (LLY).Loxo stock rose over 65% to $234 level.
- Loxo Oncology’s pipeline includes LOXO-292, an oral RET inhibitor being studied across multiple tumor types, which recently was granted Breakthrough Therapy designation by the FDA and could launch in 2020.
- Lilly will commence a tender offer to acquire all outstanding shares of Loxo Oncology for a purchase price of $235.00 per share in cash, or approximately $8.0 billion.
Review our Mid-Cap watch list as of 9/30/18 to see other movers today.Big winners include:
AGIO ALNY BLUE BPMC CRSP GWPH NBIX NKTR SGEN XBI etc.
Strength in mid-caps portends more deals ahead in 2019. 2018 Lows in biotech ETFs were hit on 12/24/18
Reporting from J.P.Morgan Healthcare Conference 1/7/19
Updates at close.