Benchmarks gained around 1% on Thursday after the Federal Reserve hinted that it will move slowly on raising interest rates. A majority of Fed officials had said on Wednesday that the economy is ready for a rate hike this year. Only 2 out of the 17 officials believe the central bank should not raise rates before next year. Meanwhile, consumer […]
The growth is just getting started at Biogen Idec (NASDAQ: BIIB ) . OK, so it’s been ongoing for quite some time, but it certainly isn’t about to end anytime soon. The company recently launched Tecfidera for multiple sclerosis in the United States, completed three regulatory filings, is expecting three market launches in 2014, and has major trials releasing data […]
It is no secret that in recent weeks Goldman has been particular bearish (if only to the outside world), with statements such as the following by chief equity strategist David Kostin:
… by almost any measure, US equity valuations look expensive. The typical stock in the S&P 500 trades at 18.1x forward earnings, ranking at the 98th percentile of historical valuation […]
An FDA advisory panel voted in favor of approving Regeneron (REGN – Analyst Report) and partner Sanofi’s PCSK9 inhibitor, Praluent. A few deals were also signed over the last few days by companies like Vertex (VRTX – Analyst Report), Celgene (CELG – Analyst Report) and Seattle Genetics (SGEN – Analyst Report).Recap of the Week’s Most Important Stories1. Regeneron and Sanofi […]
Benchmarks ended Tuesday’s choppy trading session almost unchanged, with the Dow Jones Transportation Average nearing correction territory. The transportation index took a beating mostly due to a drop in airline stocks. The Nasdaq finished in negative territory dragged down by decline in biotech stocks, but the S&P 500 ended in the green boosted by gains in consumer staples and financial […]
By Ben LevisohnBarclays’ Geoff Meacham and Jonathan Eckard are feeling good about biotech stocks like Biogen (BIIB) and Alexion Pharmaceuticals (ALXN) heading into the summer. They explain why:
Associated Press
[The] Nasdaq Biotech Index index has outperformed the broader market eight out of 10 times over the summer period (Memorial Day to Labor Day) and in 2Q/3Q, there are a number of meaningful […]
Benchmarks gained over 1% yesterday on weaker dollar and drop in bond yields. Thursday’s gains were broad based with the S&P 500 closing at an all-time record high and 9 out of 10 sectors of the index ending in positive territory. Economic data was mixed, giving no clear indication to investors on the timing of first rate hike.For a look […]
This biotech stock is a bargain
Options expert Stacey Gilbert explains why Celgene is trading at a discount to its peers.
Investors have been flocking to biotech stocks this year, with the IBB, the ETF that tracks biotech stocks, up nearly 16 percent. But with high returns come high valuations, except in one name, according to a strategist who closely watches the […]
Markets ended the last trading session of the week in the green boosted by upbeat nonfarm payroll data. The benchmarks gained more than 1% on Friday, with the Dow registering its largest one-day percentage gain in more than three months. Friday’s encouraging jobs report also helped the benchmarks finish mostly in positive territory for the week.For a look at the […]
By
Timothy Hay
Biography
CONNECT
Biography
Biotechnology companies have been going public in record numbers, and many of them have been immediately embraced by public-market investors once their stock starts trading.But does that mean the sector is in a bubble?The chief executives of two venture-backed companies that went public spoke at the National Venture Capital Association’s annual conference in San Francisco. They said the good days for […]
