It’s been a turbulent few days for the biotech sector with the NASDAQ Biotechnology Index declining 5.46% over the last five trading days. A major part of this decline was recorded on Monday as the sector reacted to negative pipeline updates from companies like Amgen (AMGN – Analyst Report) and Celladon (CLDN – Snapshot Report). Meanwhile, Biogen’s (BIIB – Analyst […]
“That’s a high-profile move. That could make people concerned,” said Steve Massocca of Wedbush Securities. “It’s not exactly the cheapest group around. It’s got an elevated valuation here. It does nothing but go up. It doesn’t take much to create a wobble.””It doesn’t appear to be hurting other speculative areas. The social media index is up three-quarters of a percent,” […]
Google FinanceShares of Aerie Pharmaceuticals erased more than two-thirds of their value in a few minutes late on Thursday.The stock closed nearly 2% higher at $35.39 per share, giving the company a market value of $850 million. Then shortly after the end of trading, the company announced that Rhopressa, an experimental eye drop, failed a late-stage test.In after-hours trading, shares crashed by more […]
The Medicines Co. (MDCO – Analyst Report) was in the news for different reasons last week – while the company reported disappointing preliminary top-line results for the first quarter, later on the company received some good news with the FDA issuing positive briefing documents for Kengreal ahead of an advisory panel meeting. Other companies making it to the headlines over […]
Source: Amgen, Flickr.The biotech sector is something of a roulette wheel for investors. The chances of being right are typically against you, but if you can land a winner every now and then the rewards can multiply many times over your initial bet.A majority of the biotech sector is comprised of clinical-stage pipelines or developing product portfolios which are still […]
View gallery.(Wikimedia Commons)There is probably a bubble in biotech stocks.
In a big note on published on Friday, analysts at Credit Suisse ask if we’re in a biotech bubble, and answer that no, it’s not a bubble, merely a “new era” for biotech stocks. Which is exactly what it sounds like when something is a bubble. Credit Suisse hinges its argument on what […]
Akin Oyedele
Mar. 26, 2015, 8:22 AM
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Wikimedia CommonsSome investors have been worried about a bubble in biotech stocks, and Wednesday’s sell off seemed to prove those fears.Biotech stocks fell more than 3%, their biggest one-day drop this year.But the industry is still one of the best-performing in the market: it’s up 35% over the past 12 months and 9.3% year-to-date, compared to year-to-date gains […]
In what looks like a sequel to March 2014, high-flying biotechnology stocks and exchange traded funds are retreating amid talk of frothy valuations and a biotech bubble.At least temporarily, Friday March 20 marked the top for several of the largest biotech ETFs. That is when big-name ETFs, such as the iShares Nasdaq Biotechnology ETF (IBB) , the largest biotech ETF, […]
Submitted by David Stockman via Contra Corner blog,Surveying the Fed’s handiwork during last week’s press conference, Janet Yellen noted that all was awesome except that stocks were now slightly “on the high side” of their historical range. You can say that again!In fact, you can say that any one capable of uttering such tommyrot has been totally bamboozled by Wall […]
Investing.com – Investing.com — Stocks on U.S. equities markets fell slightly amid a weakening dollar, as late losses on Monday afternoon erased previous gains in morning trading.The Dow Jones Industrial Average dropped 11.61 points or 0.06% to 18,116.04, while the NASDAQ Composite index retreated from near record highs at the end of trading last week. The S&P 500 also fell […]
