The macro backdrop today was not great but the sector did better than I would have expected going into the day. That being said there is likely a correction coming so buying this dip might not be the best strategy. I am still mainly sitting on the sidelines on stocks I am watching waiting for […]
January 22nd Biotech Update
I feel like a record stuck skipping over the same part but there has not really been anything new in the market this week either from a macro sense or even at the individual level. The sector was strong in the morning basically on the backs of the large caps (see GILD later in the […]
January 21st Biotech Update on GILD ECYT ONTX
The sector is looking a little tired at these levels but it seems like everyone is expecting a pullback, which makes the contrarian in me wonder if there is another leg higher. I am certainly not selling anything at this point but would be cautious about buying now. I would not be surprised to see catalyst stocks […]
January 17 Biotech Update- Building a Diagnostic Foundation
Today was more of the same in the sector and that is generally positive given the sentiment. I know it seems like biotech has been going up every day (we have certainly had a good run recently) but it seems to me like this is the only sector that is not warning on earnings as […]
January 16 Biotech Update- Back from the Circus
I am back from JPM and it was a busy couple of days. I need organize my thoughts and today was not a great day given that it is start of the semester. So I will keep this short and sweet with some broad comments and thoughts. Obviously the sector is doing well, which is […]
January 10 Biotech Update- The Revenge of Momentum
Another busy day in the market. It seems like the small caps want to steal the show and perhaps we will see the large caps take the next leg higher with their presentations next week. I have been saying for awhile that JPM would be a tell for the sector and while the conference has […]
January 9- The Biotech Momentum Continues
It was a great day for biotechs despite a neutral to bearish macro drag. We not only had some great price action but we continued with the positive news. This is creating a nice bid under the sector and even the large caps that did not have much news per se moved higher. It is […]
Jan 8 Biotech Update- Looking to Europe for Value and Some Deals at Home
Well, it seemed like yesterday was the day of good data and today was the day of buyouts, what will tomorrow bring? The day of partnerships or the calm before the storm or something completely different? Regardless, two days of good news in the sector gave us a strong morning move that held up well […]
January 7 Biotech Update: Good News for PCYC, EPZM, and FMI
I thought yesterday was going to start a run in biotechs but I was a day early. We had the broad market rally helping but the sector was pushed today by some positive news. Of course, every move higher in the sector is bemoaned as being too much making this one of the most hated […]
January 6 Biotech Update: A Slow Start to the Year
I hope everyone had a great holiday and is ready for 2014. It has not been a stellar start for the market or biotechs, which is a little worrisome but it is still early. I have been arguing that the best tell for biotechs will be the price action from the JPM healthcare conference. I […]
December 20 Biotech Update- Wrapping up the Year
It was a good day for the market and biotechs were strong once again. It seems like tax loss selling is winding down and selling volume is starting to dry up. So we are likely to have a positive bias for the rest of the year. It also helps that the news flow in biotechs […]
December 18 Daily Biotech Update- A Couple of Surprises
Well, the taper was exactly what the market and biotech sector need. Who saw that one coming? Is this simply a relief rally, start of a Santa rally, or setting us up for a bigger fall? For the biotech sector I see it more as a relief rally at this point but one that may […]
December 18 Biotech Update- Rigorsertib Fail Pancreatic Trial (no surprise) and MRK Collaborates
We are getting into the doldrums so to speak and not much is going on. The market really seemed listless in the morning as I guess traders were waiting for the taper decision. I still see a negative bias in biotech, especially in this year’s big winners. It could very well be that funds are […]
Onconova- Pancreatic Cancer Trial Fails- not meaningful
Just a real quick note. ONTX announced the failure of rigorsertib in pancreatic cancer. This should not be a surprise at all. Clearly this is a negative headline and I expect some selling but if it is anything more than transient then people still do not understand this company or its prospects. No one should […]
December 17 Daily Biotech Update- What did CEMP say and what is wrong with PCYC?
It was a macro day to a certain extent with the broader market down but biotechs certainly underperformed. There were a few islands of strength but for the most part the entire sector was weak and some significantly so. As I have been saying these moves are noise to a certain extent as the price […]
December 16 Biotech Update- More Antiobiotic News and Post-ASH Selloff
Stocks were strong out of the gate and biotechs with them but the market weakened throughout the morning. Biotechs did not necessarily lead the market lower but seemed to be a relative underperformer. Again, this is not a total surprise as the sector had a great run at the end of November, so they need […]
December 13 Biotech Update- Some Anti-infective Discussions
It was more of the same in the market (so to speak) and while there was some green out there, I am not convinced that we have completely consolidated that late November move. This seems more like a pause in that correction as opposed to a base that is going to reverse it. It is […]
December 12 Daily Biotech Update- More Thoughts from ASH
Today was a better day for biotechs but I still think that many of them want to test their moving averages which are still lower than these levels. As such, I am cautious about adding at this point but I am certainly not selling either. I am going to continue with my impressions from ASH […]
December 11 Biotech Update- Thought from ASH
I am back from ASH and ready to get back to writing the daily updates. There is a lot to cover, so it may take a couple of days. We are in a post-ASH pullback, which is not surprising and the macro selling was not helping either. Many of the biotechs I follow are above […]
December 5 Biotech Update- Who is Bayes and what does he have to do with Biotech?
Another slow day in the market but this will clearly change as we enter into ASH this weekend and early next week. At least we should have some interesting data to talk about. We were starting to see some ASH names move today, which is to be expected given we are days away from critical […]
