Biotech and Healthcare Stocks Hit New Highs
The market roared back today with healthcare and biotech the strongest sectors.The Healthcare Select SPDR ETF (XLV) was up 2.21% to $73.40. This is a 52 week high. The Euro rallied 1% to 1.057 and that helped large cap companies with revenues outside the US. The XBI SPDR Biotech ETF (XBI) also hit a new high at $232. XLV should be added to portfolios underweighted in healthcare.
Amgen (AMGN) and Regeneron (REGN) soared on the potential of their PCSK9 inhibitor for cardiovascular disease.
Rayno Movers: Biopharmaceuticals
ABBV up 1.93%, AMGN up 5.69%, BIIB up 1.93%,CLVS up 4.87%, FBT up 2.35%, GILD up 1.7%, REGN up 5.2%, SGEN up 2.1%.
Rayno Movers : Diagnostics and Tools
CPHD up 3.15%, ILMN up 4.5%, QGEN up 2,54%, SQNM up 3.34%, TMO up 4.36%.
About Raynovich Rod
Rod Raynovich is an experienced biotech investor and analyst with a focus in vaccines, tools, IVD’s and biopharmaceuticals. Prior to starting Raygent.com, he was a former technology transfer office at UCLA and he has held various executive positions in the biotech and medical device industry, including senior positions at NASDAQ listed biomedical companies. Prior to that Mr.Raynovich held management positions at Abbott, JNJ and Technicon.