click 2017 Biotech Breakthrough on a Green Screen Day
Biotech stocks got a second wind today and the 2017 rally broke through recent tops that have been strong resistance. buy Lyrica Pregabalin Our favorite trading pick the XBI soared 4.82% to $70.48 breaking through the September top and 19% up YTD. The large cap IBB went up 2.89% to $298 right at its September high and up 12.39% YTD.
The momentum lately has been in the speculative small and mid-cap stocks more sensitive to clinical news and M&A rumors. All large cap biopharma stocks except Roche ADR (RHHBY) were up led by Regeneron (REGN) up 3.34%. Mid-Caps always strong in a rally were up across the board led by the usual suspects: Alnylam (ALNY) up 10%, Radius Health (RDUS) up 6.21%, Clovis Oncology (CLVS) up 5.22%, Seattle Genetics (SGEN) up 5.09% and BMRN, ICPT, VRTX etc. Tesaro (TSR) lagged up only 0.28%.
Update at mid-day tomorrow. The rally has good momentum for trading and the core portfolio. The healthcare and biotech sectors led an otherwise lackluster market today with the NASDAQ up only 0.28%.