Frothy Biotechs Hit By Amgen Earnings- Reiterate Caution
Biotech Sector Off All Time Highs This Week-IBB Down 2.5% The biotech melt-up that coincided with the surprising Vertex (VRTX) 60% move on April 19 has run its course and the IBB is now 7 pts off the all time high of $177. Vertex was off 4.75% today. Daily trading volume was double the...
Rayno Life Science and Tools: Performance Summary April 21 YTD
A Great Quarter for Many Tools and Diagnostic Stocks The tools and diagnostics sector usually underperforms biopharmaceuticals because the companies are more tethered to deal news and fundamentals. We will review our focus stocks below as Q1 earnings come in. NASDAQ is down about 3% over the...
BIO Meeting in Chicago Next Week
I am at BIO next week and will probably not be posting for several days: 2013 BIO International Convention Here are some of the key sessions: Schedule at a Glance | 2013 BIO International Convention...
Rayno Life Sciences-Biopharmaceutical Update: Turbo Boost From Vertex (VRTX)
Vertex Pharmaceuticals Gives Biotech Sector A Turbo Boost Vertex (VRTX $82), a laggard in the frothy biotech universe rose an astonishing 58% on positive Phase 2 clinical news from its cystic fibrosis drug VX-661. The study showed statistically significant improvement in lung function among...
Risk Off Resumes After One Day Rally: Caution on QQQ,IBB
Major Sell-Off Early On April 17--Correction is Here with Some Technical Damage Posted 12.15p EDT, Update at 4:56p The rally yesterday was apparently a head fake as a major sell-off resumed today with the NASDAQ down 2.10% and the S&P down 1.7%. The gold free fall on Monday foreshadowed...