Biotechs Fade Again In Late Day Sell-Off
Biotechs Fade After Promising Start-Smaller Cap Winners Biotech stocks got a jump-start this morning peaked quickly then abruptly sold off at about 2p. The IBB ended down 1.33% to 268.79 off recent five-day highs of $274 and considerably off post-election highs of $293. The XBI tells a similar...
Biotechs Mixed Hurt by Alexion (ALXN) and Ophthotech (OPHT)…Update-1
Update-1 2:30P EST... Improved Tone in Selective Biotech Stocks Maybe it's bottom fishing or the end of tax selling but today we can see buyers coming in for large cap biotechs. However the backdrop is still cautious because of drug pricing rhetoric and a sector shift to industrials, energy and...
Biotechs Unhinged by Tough Pricing Talk
Biotechs Unhinged-Roiled by Commentary and Tweet storms Biotech stocks rallied briefly early in the week but sold off abruptly over the past two days with a quote from Trump in a Time Person of the Year article as saying, "I'm going to bring down drug prices". This tough talk is reminiscent of...
Market Reversal in Biotech But Healthcare Stocks Are Still Muddled
Market Reversal in Biotech Offers Bullish Set-Up After one of the worst down days in months yesterday biotech stocks broadly reversed today giving a short term "nibble" signal. The macro environment got support from economic data as well with upward Q3 GDP revisions to 3.2% and higher consumer...
Alert: Alzheimer’s Drug Fails in Clinical Trial-Stocks Sink: ACIU,BIIB,LLY…Update-1
Another clinical trial failure for an Alzheimer's Disease in a late stage trial triggered a pre-market sell-off. Both Biogen (BIIB) -aducanumab- and Lilly (LLY)- solanezumab -drugs in development are engineered antibodies that attack beta amyloid targets in the brain. At the close 11/23: ACIU...