They say good things come in threes. If so, biotech companies could be in for not just another year of outperformance, but another decade. The first era of biotech was a building phase, when companies created their first blockbuster drugs. The second, current one, has resulted in a four-year rally that reflects the sector’s transition from a cluster of one-hit […]
If there is such a thing as a poster child for volatility in the stock market, the biotech sector would likely take top honors.Biotech stocks are unique. While stocks in other sectors are typically valued based on their past performance and future earnings potential, the majority of biotech stocks don’t have a cent in recurring revenue. Instead, biotech stocks are […]
Many individual investors have opted to invest in biotech ETFs and mutual funds. The XBI and SBIO funds have performed well because they focus more on small and mid-sized biotech companies. The IBB, which has emerged as something of a proxy for the industry for many investors, is weighted much more heavily to bigger, more proven biotech companies.The volatility of […]
Momentum traders – relying on the ‘trend is your friend’ theme – may have a rude awakening soon as momentum stocks trade at a stunning 50% premium to the market (vs an average 20%). As BofAML notes, high growth, high multiple names that have been leading the market over the past year are showing some signs suggest we are close […]
Summary: Overall, fund managers’ asset allocations in August provide conflicting views on sentiment.On the one hand, fund managers’ cash remains at the highest levels since the 2011 and 2012 equity lows and the panic in 2008-09. This is normally contrarian bullish.However, allocations to equities rose over the past two months and are above the mean. Cash levels are high because […]
Many individual investors have opted to invest in biotech ETFs and mutual funds. The XBI and SBIO funds have performed well because they focus more on small and mid-sized biotech companies. The IBB, which has emerged as something of a proxy for the industry for many investors, is weighted much more heavily to bigger, more proven biotech companies.The volatility of […]
The S&P 500 Biotech Index has nearly tripled in the past three years. The index had stalled and moved sideways for much of the past spring, leading some to wonder whether the rally was spent. Several factors have been fueling the biotech rally of the past three years. For one thing, the U.S. Food and Drug Administration has been pushing […]
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