Update-1 …2/17/18

Good Week for Biotech: FBT up 6.29%, IBB up 4.44%, XBI up 6.26%

Biotech stocks continued their strong recovery from the big sell-off in the prior week but about 3% under 2018 highs. Biotech ETFs tracked the QQQ up 5.68% for the week but biotech stocks are leaders YTD beating the S&P 500.

Here are weekly gains for Rayno Large Cap Biopharma picks:

  • Abbvie (ABBV) up 6.54%
  • Amgen (AMGN) up 5.82%
  • Bristol-Myers Squibb (BMY) up 9.98%
  • Celgene (CELG) up 2.97%.
  • Gilead Sciences (GILD) up 1.74%
  • Our speculative picks also did well: bluebird bio (BLUE) up 11.24%, Foundation Medicine (FMI) up 15.5%

XBI SPDR S&P Biotech ETF daily Stock Chart

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Another Biotech Deal, Another Rally

  • Bristol-Myers Squibb Expands Immuno-Oncology Pipeline With Nektar
  • FBT up 2.8%, IBB up 2%, XBI up 2.6%: Momentum Returns
  • Market Ignores CPI  News with NAZ Up 1.9% but 10 yr Yield is 2.91%

 

Disclosure: long AMGN BMY with new trades added  KPTI SGEN XBI

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