Biotech Week in Review after Vacation: Healthcare Stocks Lead

Biotech Week in Review 4/19-4/23 2021

• Healthcare stocks led in an up and down week.XLV up 9% YTD.
• Major indices buffeted by potential capital-gains tax increases.
• Biopharma held recent bottom with gains for the week.

It was a good week to take a vacation and hold our portfolio in healthcare stocks (see below). We weren’t tempted by short term trades in front of. major earnings week from many of the stocks we hold. Major Biopharma earnings are coming next week from AMGN, LLY, MRK and ABBV.; and large cap tech as well.

Among the major stocks we follow Abbot Labs (ABT) reported good growth in tests but an earnings miss and the stock held at the $123 level, there is concern that test volumes will slow as vaccinations take off. JNJ stock regained the $165 level as vaccine distribution will resume; Q1 Revenues and earnings beat estimates.

United Health (UNH) was up 2.87% for the week in a healthy uptrend.Anthem (ANTM) gave upbeat guidance.

Diagnostics stocks took a hit: Quidel (QDEL) misses on preliminary results, stock plunges to $114 level from $121. Hologic(HOLX) holding in $70s reports this week.

Vaccine stocks were strong see BNTX and NVAX,but is  INO done? Moderna (MRNA) gets a bullish review despite bears in Barron’s.

Medtech is in an uptrend: FSMEX,MDT, XHE. Phillips raises sales growth forecast.

XBI is still a laggard, CRSP and VRTX announce priority designation for CTX0001 beta thalassemia,