Biotech Rocks On: Rayno Life Science Portfolio Up 2.2 % Led By Regeneron (REGN)
The biotech bulls are in charge this week. The sellers must have been watching the Bernanke Press Conference today or maybe buying gold as biotech stocks had one of their best days of the year. The bellwether ETF IBB was up 2.37% to $108.71 an all time high exceeding its high of $105 in June of...
Biotech Sector Ignited By Biogen-Idec (BIIB) and Vertex (VRTX)
Vertex (VRTX $54.17) soared 12.75% today on expectations for FDA approval of it telaprevir HCV drug Thursday April 28. Today FDA staff in a preliminary review commented that the Vertex drug when combined with current therapies is more effective than those drugs alone. The FDA team confirmed...
Rayno Life Science Market ReCap-Quiet Day but More Red than Green
Caution is still on as we have had big moves YTD and speculative stocks are selling off. High flyers Amarin (AMRN $16.10) is down 4.85% on volume of 6.85M shares while Ariad (ARIA $8.14) was down 3.2% on volume of 1.5M shares.. Vertex(VRTX $48.04) down 2.69% coinciding with comments from the...
Biotech Movers du jour: Biogen (BIIB), Cubist(CBST), Nektar (NKTR)
Biogen(BIIB $103) soared 19% today reporting profit of $294.3M EPS of $1.20 compared to $217.4 and EPS of 0.80 in the previous year. Revenue from its drug Tysabri used to treat Crohn's and MS grew 15% to $251M. The Company also reported late stage clinical data on its experimental oral MS...
Tech Leads Biotech Sector Higher, But Amgen (AMGN) and Gilead (GILD) Weak After Earnings
Tech Goes from Laggard to Leader Taking Strong Biotech Sector Along for the Ride Tech stocks rallied big today with the NASDAQ up 2.1% to 2802, The Dow hit a new 2 1/2 year high up 1.5% to 12,453.The main catalyst was Intel (INTC $21.41) up 7.4% beating EPS estimates of 59 cents vs estimates...