So far the week is ending on a positive note but it is early but not surprising that we see some sort of bounce in the market. I sort of wonder how the trading ends the day as it will send a stronger signal than how trading starts. We have seen a lot of macro […]
August 15 Biotech Update
While the macro has been major the past couple of days, the sector specific news has been pretty sparse. I was hoping something interesting would happen to write about but there really is nothing major. It does make it a little easier to trade in that we will be sucked up in the macro maelstrom […]
August 13 Biotech News
We are back into the old pattern. Good biotech news that moves the individual stock but has limited read through. We have had a couple of these days where the sector grew stronger as the day went on but that usually required a lessening of the macro concerns. That could be the case today as […]
August 12th Biotech Update
Another week with another set of macro concerns. I was waiting to see if there would be any interesting biotech news but I guess not. There was some late last week but this morning seems driven by macro (your choice between Argentina and/or Hong Kong and/or China trade). I see little on the horizon that […]
August 9th Biotech Update
It has been 24 hours of surprises culminating in my daughters school bus not showing up this morning but that is the least of the surprises. Interestingly, the broader sector is actually holding up despite the series of negative surprises but let us dive into the news. 1. AMRN is perhaps the biggest surprise. It […]
August 8 Biotech Update
What macro brings down macro can bring up. The sector seems to be trading right in line with the broader markets but hopefully we see some acceleration of the sector given the positive news that needs to be digested. 1. SRPT is lower on the earnings release. The revenues were fine and in line. SRPT […]
August 7 Biotech Update
Are we in the process of bottoming? Perhaps. The sector still cannot get the moves it deserves based on the fundamental news that has come the past couple of weeks. What will be most telling is when the macro fades and market rallies, does the sector outperform? In other words, have people noticed the good […]
August 6 Biotech Update
We tried to get a bounce this morning but it is tepid at best. On the positive side we did get a CNBC “Market in Turmoil” segment, which usually marks a bottom. On the negative, the move has been so fast it does not seem like panic or despair has had time to set into […]
August 5 Biotech Update
We live in a sea of macro right now. Take your pick. China and trade. China currency. China and the protest in Hong Kong. India and Pakistan over Kashimir. Iran seized another tanker in the Middle East. Russia and US existing from a nuclear arms control treaty. This move lower has been fast and violent […]
August 2 Biotech Update
So it looked like yesterday was the day that all the good news was finally going to push the sector higher and we get the China tariffs macro news. Clearly the sector cannot catch a break and all of this good news now runs the risk of being buried in macro issues. There is still […]
July 31 Biotech Update
Well, this would have been sooner but as soon as I got to my office I had a train of people “needing” to talk to me immediately. I did not even have a chance to get coffee. In any case, I have a break from the people and can look at the market. It finally […]
July 30 Biotech Update
Tell me if you heard this before. Good news in the sector that moves individual stocks and yet little effect on the broader sector. We have yet another day with good news (clinical and earnings) and yet the sector is barely green. Granted the broader market is red but this has become a trend. I […]
July 29th Biotech Update
We sort of have another merger Monday but again not what SMID investors were hoping for and another one that might have limited read through to the broader sector. That being said I am a little surprised to see such a negative reaction in the sector, although it could also be a function of more […]
July 26 Biotech Update
The market seems odd to me. Earnings so far have been good and the individual stocks are going higher on the earnings and holding onto the gains. The rest of the sector is struggling. Usually earnings will drive the sector higher or lower and rarely do you see good earnings with these many large caps […]
July 24 Biotech Update
I am a little surprised that there was not more movement from the Senate drug pricing plan (which was later supported by the president). We finally have the outlines of what drug pricing reform will look like over the next couple years and it is generally good for the sector but there was limited reaction. […]
July 23 Biotech Update
This is an odd day in the market. You get the first important large cap earnings, which usually drives the rest of the sector but there is no connection. BIIB (which is discussed below) did well but the broader sector is grossly underperforming it and the broader market. Not exactly sure of the reason but […]
July 22 Biotech Update
It is generally a good start to the week for the sector with a slight outperformance of the broader markets but only marginally so (and it remains early). We are getting into earnigns season but this seems increasingly less important for large caps given the lack of growth. There is no new launch that is […]
July 19th Biotech Update
I am back and need to catch up on the overall market and some sector news. I do want to focus today on a stock we all know and will have more broader sector commentary next week. I do think the sector is set up for a major move as it looks to have been […]
July 10th Biotech Update
The market is in an odd position in that it is doing well with macro having faded into the background. I would keep an eye on the Iran situation flaring again as the Iranians are likely to respond to the British seizure of one of their oil vessels and now Trump is talking about more […]
July 9 Biotech Update
I am back from vacation and have a couple of days to get as much work done before I am taking care of some family issues. I should have some time perhaps late next week but it will be hit or miss. In any case, there are some interesting points that I tangentially followed on […]
