The market looks bad and it is bringing down the sector although I think BIIB has done a pretty good job at reversing some bullish biotech sentiment. That being said the sector might be outperforming the broader market a little as there was a nice big deal announced this morning. When all is said and […]
July 24 Biotech Update
Unlike earlier this week where bad news was shrugged off, it looks like we are going to see selling on the bad news. This pullback should eventually generate nice bargains if it picks up steam but it might not be an immediate buy the dip as earning have been relatively mixed, so money may be […]
July 23 Biotech Update
A good start to the day with earnings almost universally beats and raises. Given the strength the sector showed yesterday, this should move the group higher and increase expectations for those companies that have not yet reported but perhaps we are in an opposite mode and will sell good news and buy bad. 1. BMY […]
July 22 Biotech Update
The sector is a little weak this morning, which is to be expected but not nearly as weak as I thought it would be going into the open. There has been some negative news (or mixed depending on your view) and I figured this would weigh more heavily on the group. It is obviously still […]
July 6 Biotech Update
A pretty quiet start to the week (at least in terms of bio news). Obviously we have all the Greek drama but despite fears of the worst, the opening was not too bad and stocks seem to be rallying with bios taking the lead. While it is way too early to read into the price […]
13F Analysis of Best Performing Healthcare Hedge Funds (Q1 2015)
13F filings have arrived and it’s like Christmas day for me. I’ve been pouring through the filings, tweeting the interesting ones, and probably annoying everyone on twitter. These filings are a great idea generation tool, a starting place for due diligence, and way to get a peek at the focus of the best minds in […]
April 24 Biotech Update
Some news to talk about today with interesting implications and I will try to cover most of them. The sector seems to be lagging early despite some business development news but we also had a big miss by BIIB that might be acting as a headwind (the M&A rumor seem to save the day so […]
April 14 Biotech Update
A weak start to the day that essentially appears to be a continuation from the late selling yesterday. It still seems to be the case that large caps are underperforming the SMID, which has been the case for awhile. I suspect that is going to be a difficult trend to break but for the long […]
April 9th Biotech Update
The market is choppy this morning so it is difficult to read anything into the price action. I am growing slightly more constructive on the near term of the sector but that is a very low conviction view. While the sector bounced on support, I have a hard time believing that the sell off was […]
March 31 Biotech Update
The sector was relatively weak yesterday and did not start this morning particular strong. I still am noticing the large cap lagging trend that has been going on for awhile. Is this simply a function of the lack of near term catalysts, increasing bearishness on the large caps, investors chasing returns lower on the capital […]
March 25 Biotech Update
A rough start to morning for the sector with a biotech bubble article in the WSJ not helping. There was nothing new but the headline is the headline (it also had some odd numbers like CELG P/E over 50, which is much higher than the numbers I usually see when calculating CELG P/E). Of course, […]
March 24 Biotech Update
Today seems to be a slow day, so I will try and keep it short and to the point. The sector held up better than I would have thought yesterday, although it was a clear underperformer. What seemed a little odd was that it was not GILD or BIIB leading the large caps lowers but […]
March 23 Biotech Update
A weak start to the week but it is also a continuation from the weak ending of last week. Everyone is waiting for a pullback. The bulls expect a moderate pullback to consolidate the move, the bears expect a more significant move to purge a lot of the excess valuation, and the bubble callers are […]
March 20 Biotech Update
I believe there was some sort of data that came out today that had people talking. LOL. The BIIB data neatly dovetailed into biotech valuation discussion and so I want to spend time talking about both the BIIB data and valuations. I want to try and separate them as while they are clearly linked, they […]
March 18 Biotech Update
Some early weakness but I also suspect today is going to be fairly volatile with the Fed weighing in later this afternoon. So I am really not going to read anything into the price action this morning and even less into the price action in the sector after the announcement. Given how close people think […]
January 26 Biotech Update
It has been a mixed start to the week both in terms of the macro background and also stocks within the sector. It seems like both are looking for new leadership (to the upside or downside) and I still lean towards the next move being higher but it remains a low conviction view. On the […]
January 23 Biotech Update
It has been sort of a mixed bag with the sector despite some decent macro tailwinds with the European QE program. I am not saying the sector has been bad but I would have expected it to take more of a leadership position in the move higher whereas it seemed more to have been dragged […]
January 8 Biotech Update
A great continuation for the markets but I do not see a lot of great action in the biotech sector. We spiked higher but those original moves have not held and we seem to be retracing the gaps. If those gaps in the sector cannot hold with the markets running, then that is certainly an […]
December 30 Biotech Update
A drifting day in the market but with a negative bias to start. It is hard to read too much into the movement as the volume is low and there is little news out there. I am going to spend the next couple of notes previewing 2015 to a certain extent. I will start with […]
December 19 Biotech Update
After a set of very strong rallies, it would probably be constructive for the market to trade sideways for a bit but the pressure for managers to chase may be too great as their benchmarks are that much higher after the recent rip. In any case, it was a relatively benign open to the market […]
