http://akinabridalcouture.com.au/product-category/jewellery/ Update 9/26: FED Rate Hike Curbs Traders but Biotech Rolls On
The market dipped slightly then went red about 3:30P EDT resulting in a 0.4% loss for the Dow. Main rates will rise to the 2 to 2.25% level with more rate hikes in the future. During Trump’s Press Conference today he said he does not like interest rate hikes. Many Mid-Cap Biopharma stocks rose with usual suspects in the lead: ANAB up 6%, BPMC ICPT LOXO SRPT TSRO. Alexion (ALXN) continued too chug along up 5.13% to $135.61 on reiterated outperforms and a $1.2B acquisition. Other large caps were also in the green: BIIB GILD VRTX.
- go site Update 9/25: Tesaro (TSRO ) up 2.42% to $37.31 looking for $40 after Quarterly rebalancing.
- Alexion (ALXN) up 0.37% to $129.on good volume, up 3.98% over 5 days.
- Mid-Cap Watch list green screen especially: ARRY, NVCR; XNCR down 5.37%
- Gene Editing Stocks move up: CRSP, EDIT, NTLA.
follow url Biotech Bounces to Up-Trend Line– News Provides Lift
Major ETFs Rally: IBB up 1.19%, XBI up 1.13%.
Amgen (AMGN) hit a new high at $207.21.
Despite a choppy day in the market, losses in several sectors including Cannabis stocks, with the S&P down 0.35% and the Dow down 0.68%, biotech bounces recovering Friday’s losses despite a backdrop of new tariffs, BREXIT issues and unusual political drama involving Dep. Attorney General Rosenstein with stories about his potential resignation.
Trade of the Day
Amarin Corporation (AMRN) soared over 300% from the REDUCE-IT Trial top line Phase 3 trial data reduced the risk of heart attacks, strokes and deaths in certain high risk patients. The drug Vascepa, derived from fish oil, can potentially cut the risk of cardiovascular events by 25%. The study will be presented on November 10 at the AHA Scientific Sessions.
Alexion Up 5.34% On Clinical News-Phase 3 Study for Soliris
Alexion hit the $128 level on Phase 3 clinical results for Soliris in patients with Neuromyelitis Optica Spectrum Disorder (NMSOD) reducing the risk of Adjudicated On-Trial by relapse by 94.2%. Safety profile consistent with previous studies. However stock had distribution despite buy rating of 1.8.
Mid-Caps Were in Green Screen Mode
Top winners up today are: RARE up 4.4%, LGND 3.27%, SRPT 3.73%, NKTR 3.17%, ICPT 3.5%. However, Tesaro (TSRO) was down 3.34%. Acadia (ACAD) could not maintain upward momentum, down 1.59% to $19.85.
Hold core positions through Q4 unless Q3 earnings give a caution signal.
DISCLOSURE: long ALXN, TSRO.