buy modafinil paypal uk IBB up 1.87% to $305.50; XBI up 1.93% to $75.60
- As we have covered biotech ETFs in the past the XBI is one of our core positions for aggressive investors. It outperforms because of equally weighted positions where a big move in several mid or small caps will boost the value.Here is a review from last year of the IBB compared to diversified healthcare mutual funds.
- There is news that will be updated later that the Administration’s policies on drug pricing will be less harsh. But the final order may have to wait for the Senate vote on health care reform.
Good Day Today: XBI Breaks Through to $74.16 up 3.58% a 2017 High.
NASDAQ up 1.42%
Tech stocks rebounded today and biotech stocks soared and maintained the market lead in 2017 performance.The XBI is now up 25.29% YTD and the IBB is up 13% YTD closing in on its 2017 high just a tad above $300. The QQQ was up 1.67% to $140.46.
Clovis Oncology (CLVS) took off 46.54% on a Phase 3 clinical update of its already approved Rubraca PARP inhibitor drug for ovarian cancer. The primary endpoint of progression free survival was achieved in the patient population studied. The Company plans to launch a $250M stock offering.
The biotech sector was all green with many Rayno Life Science movers:AMGN up 1.64%, BLUE up 3.59%, BMY up 1.41% and GILD up 1.09%.
Small cap biotechs soared today, but mid-caps regained momentum: ALNY, BMRN, ICPT, INCY RDUS in expectation of more good news or an M&A cycle. The healthcare sector (XLV) remains a market leader up 1% today with significant inflows over the past week.
Investors appear to prefer growth over value as energy and telecom stocks continue to lag.
We are attending the BIO International Convention in San Diego this week with over ten thousand attendees and Exhibitors.