The market is certainly providing a better backdrop and the sector is doing well in response. At this point the trend is your friend, although as I noted the other day there is some froth in certain portions of the market. 1. The big news coming is the REGN PCSK9 outcomes trial data this weekend. […]
March 8 Biotech Update
Some interesting news happening in the sector that might have some pin action more broadly. In general, it seems like the broader market is getting its legs, which is likely good for the sector as it has been doing well without additional M&A (which is very likely coming this year). 1. There was a healthcare […]
March 7 Biotech Update
Macro might be a little bit of a drag on the sector today but it seems to be doing well this week despite the lack of M&A and some macro headwinds. We at least go some interesting data today, which is the focus of this report. 1. ESPR announced positive data in the first of […]
March 5 Biotech Update
Not a ton of sector moving news to start the week but some big data sets. I will touch on one as it seems to have been an often discussed stock. 1. DERM missed. There seemed to be some worry that they would hit 3 of 4 on the endpoints but they missed them all. […]
March 2 Biotech Update
Between continued hawkish fed speak and a potential trade war, the market is going to have trouble getting its feet, which includes the sector. The market has been able to shake off a lot of issues the past year or so and perhaps this will be yet another wall of worry to climb but at […]
March 1 Biotech Update
Nothing that new to talk about but there is one missed opportunity that I want to highlight. It is a stock I talked about buying, thought about buying, almost bought, but did not buy. Despite missing on the move, it is still intriguing. 1. BGNE reported earnings last night. This stock has had a nice […]
February 28 Biotech Update
Last night was an interesting night (to put it kindly). One is more a stock reaction story and the other is an unknown-unknown story. Let us dive into these issues. 1. The easier of the two is TSRO. Revenues were basically in line with perhaps a small miss on Zejula (consensus of $46M versus actual […]
February 27 Biotech Update
So still a relatively slow news week. There are a couple of interesting tidbits that came out the past day that are useful to highlight, although nothing that would be particularly thesis changing. 1. The CLVS numbers appeas to be around consensus, although there were a couple of price target lowerings as the ramp seems […]
February 26 Biotech Update
A slow start to the week, although the sector does not seem bothered by the lack of news or M&A to start the week. There is some additional earnings this week but outside of potential data coming for a couple stocks, there does not seem a lot of imminent thesis changing news. 1. Today is […]
February 23 Biotech Update
The market is looking a little shaky. It is not as if the selling is sending it down but every single spike in the past couple days has been sold. I see that as a lot of overhead supply of stock for sale, which is not great. On the plus side, the support below these […]
February 22 Biotech Update
A little pick up in the news flow but clearly the sector has been tied to the broader market in the immediate term. The spike in interest rates caused by the Fed minutes took the market and the sector down. While the direct impact of raising interest rates on the sector is minimal, it does […]
February 21 Biotech Update
There is not a lot of news to start the day, so this can be relatively quick. In general, it seems that the market is slowly getting back to a lower volatility period, which is not necessarily bad. The sector was doing well when volatility was lower, so expectations should be that would continue in […]
February 20 Biotech Update
There is some news to start the week but mainly some minor partnerships and some data. Not the large scale M&A that people always seem to hope for after a long weekend. It remains to be see whether the market forgives this pause in the M&A or whether these more minor events are enough to […]
February 16 Biotech Update
There has been some interesting news to end the week. The market seems to have recovered its footing a little and this includes the sector. There is still some work to be done to repair the damage of the sell off but so far so good. 1. NBIX has been interesting. I thought it would […]
February 14 Biotech Update
It is a pretty active morning for news, so I will dive right into the events as they are pretty interesting. I am not convinced that these will be enough to break the sector out higher but they are all generally positive in the longer term. 1. The least interesting news was NBIX earnings that […]
February 13 Biotech Update
The market had a nice follow through yesterday, although for some reason I do not really trust this rally (yet). It would be nice to see a couple days of flat trading but clearly we are in a different regime with volatility this high. Expect more wild intra-day moves even on the days that end […]
February 12 Biotech Update
The rule of thumb is that markets never bottom on a Friday but we at least got a short term bottom as the market rallied into the close. Whether this was simply the bottom of a dead cat bounce or “the” bottom of this correction remains to be seen but given heavily oversold conditions, it […]
February 9 Biotech Update
The broader market looks heavy and it appears that if we end the day red that the weekly losses will be accelerating. Markets do not bottom on a Friday, so if we cannot have a real move higher today, then we will likely be lower again to start next week. We are obviously higher to […]
February 7 Biotech Update
So it looks like we are going to be tied to the broader market for a little while. We are still in the middle of earnings (although most large caps have reported) but it seems unlikely that anything meaningful will be coming out in the near term that would drive meaningful relatively under or over […]
February 6 Biotech Update
There is not a ton of sector specific news but the broader markets are taking everything down. The XIV is closing, which might have unknown consequences. It is only a relatively small ETF but who knows if it will cause short covering and forced liquidation of other positions. It is possible that the collateral damage […]
