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,...
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...
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...
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:...
Rayno Biobeat #4: Sector Shift Underway but what’s next for biotech?…Update-1
Update-1 November 28 Another nasty day for biotech A bit of a selloff in the market indices today with the NASDAQ down 0.58% and the S&P down 0.53%. The highly touted Russell 2000 (IWM) was down 1.3% after a 15 day rally. But the real wreck was in biotech with the XBI down 3.09% and the IBB...