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...
Lackluster Trading In Biotech:Sell-Off Continues In Smaller Caps
Markets stabilized today with major indices up in the 0.4% range. Despite some weakness in meteoric biopharma stocks the healthcare sector is catching bids. Unloved and unwanted Johnson and Johnson(JNJ $61.87) is trying to shake off product quality issues up 2.33%, raising its 2011 guidance...
Biotech Rally Ends With S&P Negative Outlook;But Amarin (AMRN) Soars
Even the biotech bulls bailed today on the double whammy of concern about Europe's debt crisis and the S&P echoing the Tea Party refrain about the U.S. budget deficit and need for fiscal reform. As of mid-day trading both the S&P 500 and the NASDAQ is down are down 1.5% . Biotechnology...
Biotech Stocks Roll Merrily Along Up 1%+
Drug and Biotechnology Stocks Up Across the Spectrum Its "groundhog day" in biotech world. Apparently money that has come out of tech stocks and money markets is going into healthcare stocks. In case you missed it even large cap drug stocks which have lagged the S&P YTD are in a rally mode....