The sector really seems bifurcated at this point. While the large caps have been pretty reliable winners the past couple of months, it seems like they are taking a break. Obviously, they are still close to their highs but more often than not they appear to struggle to gain and when they do the gains […]
September 17 Biotech Update
The sector rallied yesterday and seems to be trying to continue the move this morning. I think we are in no man’s land at this point as a lot of stocks are getting close to lines of resistance (for instance, GILD and CELG are both approaching the 20 day SMA). Will we pause and breakout […]
September 10 Biotech Update
Market seems a little heavy as does the sector. This is not to say that we cannot rally further from here but my base case is that the next move is likely to be a consolidation. While it is possible that this occurs through time, I expect it is more likely to occur through price. […]
July 24 Biotech Update
A busy day in the sector and I want to highlight some broad themes and then perhaps revisit with details where appropriate in the next day or two. In general, the earnings are pretty much in line and do nothing to dampen the growth stories of the large cap biotechs. The stock action so far […]
June 17 Biotech Update
The sector continues to do well and if the broader market correction holds off we may be making a move to all-time highs but I would remain cautious. In any case, the sector seems healthy at this point despite heading into the summer doldrums and a seasonally weak period. 1. So the one name I […]
June 16 Biotech Update- Good Data at EHA
A generally good start to the week for the sector with perhaps the good data out of EHA providing a nice early bump to sentiment. It seems to me that EHA was much more significant for small caps and biotech this year than ASCO despite getting a lot less play heading into the weekend. So […]
June 13 Biotech Update
This is going to be a quick update as there is not a lot of new in the market and I have a busy morning and afternoon. That being said there are two pieces of news that I thought was interesting and worth writing about. 1. CELG opted in and grabbed the global license for […]
June 10 Biotech Update
Yesterday was a busy day and ended up being a little crazier than I planned but I am not back in the office and ready to think about some biotech. I did not have a chance to check the market yesterday so I am not sure how it traded but it seems like it is […]
June 5 Biotech Update
Basically a mixed day in the sector, which is perhaps to be expected with so many traders focused on the ECB decision. Oddly it seemed that most thought there would be a significant move but the market basically yawned away the decision. The day, of course, is still young so perhaps there are more fireworks […]
May 29 Biotech Update
Generally a good day in the market and it is nice to see small caps participating in the rally. All of my previous caveats apply as to where the market may go. I would also note that the sector generally sells off after ASCO. So even if we get a continuation of this positive price […]
May 21 Biotech Update- A Little More Drama
It was a quiet day in the market. The sector started off well but it seemed to simply be following the broader market. I still think we are unfortunately tied to the macro and that the next move in the sector will be with the market. It could be that if the move is down […]
May 19 Biotech Update- The Merger Drama
It was certainly an interesting start to the week in terms of the PFE/AZN drama but the price action outside of those names was somewhat muted (I guess also outside the ITMN move). My point is that outside the names directly related to news, there was nothing significant and more of a trending day (with […]
May 8- The Biotech Draft
While there are some stock specific pieces of news, I want to do something a little different today in honor of the NFL draft. I am going to draft my top 10 stocks. This is assuming that I have no positions at all, so this is not what I would be buying now but if […]
April 11 Biotech Update- The Beating Continues
Well, there is not much to say about the market and sector other than selling is in vogue and there does not seem to be a clear catalyst that could change the tone of the market. I would also remind you that the apparent catalyst of this negative turn (pricing letter from Congress to GILD) […]
April 9 Biotech Update
As we have been apt to do, this morning was relatively strong but we need to see how this holds up throughout the day. If we are to be optimistic, then having a rally so close to the negative pricing headlines is good as was the decent performance of a number of small caps yesterday. […]
