The range finally seems broken and pretty decisively to the upside. The sector is not just moving higher but it is outperforming the broader market on a relative basis. Given the strength of the move and the overbought conditions across the market, I would not be surprised to see a pullback in the near term. […]
May 31 Biotech Update
Some interesting news as we head into ASCO. While the trading action is a little better for the sector it is not exactly tearing it up. Of course, the lack of a real ASCO run up generally does not correlate with a lower than average chance of an ASCO hangover. It is possible that it […]
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 […]
January 12 Biotech Update
Assuming nothing crazy happens, the price action has been much better than I would have expected given the headline news. What we do not know if what management said to the buyside at the thousands of meetings that occurred around the conference but clearly there is more interest in the sector despite the lack of […]
January 5 Biotech Update
JPM is just about here and traders are suddenly turning anxious. The days leading up to the meeting have gone without a big splash deal and doubts are starting to creep into investors about the potential that JPM falls flat without a major catalyst. There is still plenty of time but that is a real […]
January 3 Biotech Update
Yesterday had a nice start to the year, which seemed to be part of a broader rotation in the nasdaq. There was some “news” that I want to highlight but the bulk of today will be another non-consensus 2018 idea. 1. The FAERS released an update to its database of adverse events reports and it […]
January 2 Biotech Update
Welcome to the New Year full of hopes and questions. In the lead up to JPM (and likely a slow build up in news as companies try to take the spotlight earlier and earlier every year), I will spend the week on broad 2018 themes and thoughts. Of course, if news happens I will focus […]
December 14 Biotech Update
Volume and news is starting to dry up but there were some interesting tidbits to talk about but they are more interesting than really game changing. In any case, we are quickly approach the holiday lull but on the positive side that means we are closer to the JPM rush of news. 1. CLLS reported […]
November 8 Biotech Update
Today certainly has some interesting news for stocks I have talked about but unlikely to have an impact on the sector. In any case, it seems to be more of the same and there is still this odd effect in that there are very large moves in stocks but they always appear balanced and the […]
September 25 Biotech Update
We did not get any big news to start the week even though I think many were expecting to see a PR from AXON to start the morning. This is likely to be another one of those trend days where the sector generally follows the broader market but perhaps with a little more strength as […]
August 11 Biotech Update
The macro risks are helping to bring down the sector and we are just about at those breakout levels that I have been talking about. Of course, I also noted that when we test it no one is going to want to buy and that includes me. While nuclear war would obviously send us lower […]
August 9 Biotech Update
The sector weakness continues but is still doing so on the back of good fundamental news. Of course, all the news has not been positive but we are seeing beats, beats and raises, and positive data reports much more than misses, guidedowns, and negative data. Despite this positive backdrop there is continued weakness and partly […]
August 7 BiotechUpdate
We have some interesting earnings news but this will more be catch up from the last week. My broader view is that despite any positive or negative news the sector is more likely than not to retest the breakout levels. There is some support at the current levels so there might be a near term […]
July 13 Biotech Update
We have some news and perhaps additional news but unconfirmed as of yet. In general, however, the sector seems to be more or less treading water without a real upside or downside balance. This is potentially a longer term positive as we might be consolidating the breakout through time as opposed to price. I still […]
June 19 Biotech Update
The sector finally does not have bad news this morning to undercut any momentum. We are still waiting on the M&A cycle to start but at this point I do not think anyone is investing in the sector on the expectation of M&A (that is good to see). We are still in the same old […]
June 1 Biotech Update
The sector sort of had some positive news yesterday with TSRO putting itself on the proverbial block. This obviously moved TSRO and sector as it reminded people that good things might happen as well. Given that this was meaningful for the sector (and the lack of other news) I want to focus on a couple […]
March 28 Biotech Update
So an interesting day yesterday in that the sector outperformed the broader market (as I expected) but the broader market was not as weak. Obviously my market headwind/bio tailwind call is longer term so what happens day to day is not that meaningful (and it is not really an exceptionally high conviction call but simply […]
March 24 Biotech Update
Do we have AHCA fatigue yet? It could end today if the House votes no but a yes vote likely means another couple months of debate as it moves to the Senate where it is a non-starter. What is interesting for the broader market is the claim by Trump that he would move on to […]
