A good start to the week and it should continue the momentum for the sector. While I think we still can move on the news, it is also the case that the sector has had a nice run recently. Nothing goes up (or down forever) and the longer the run, the better the news has […]
August 4th Biotech Update
Are we finally starting to see the wheels of M&A loosen? Perhaps. We got some this morning as well as a new rumor. It is enough to move the sector (at least a little). We are definitely in a different spot as the news is actually moving the sector higher. It was not that long […]
December 15th Biotech Update
It really seems like we are at the point of the bear market that nothing really matters. Typically we talk about M&A or data or launches as being catalysts that could bring interest back into the sector. Nothing seems to work at this point. There is no big push for drug price reform. We have […]
November 12th Biotech Update
More of the same for the sector and nothing that compelling is coming out of SITC to spark interest. Without anything that could really change broad sentiment I expect continued grinding in the range. Obviously the range will not last forever but as long as we remain in the range we should assume that will […]
November 11th Biotech Update
I do not want to sound like a broken record but the sector remains in its range bouncing around. The breakout (or breakdown) will occur at some point but I do not think there is a predicable catalyst that we can point to as triggering the range break. The longer we go in this range […]
November 5th Biotech Update
We have an interesting setup for the sector. It looked for a bit like the momentum was going to take it to the upper end of the end where it would stall. It stalled yesterday fairly short of the upper end of the range. The selloff yesterday and this morning are sort of resetting the […]
November 1st Biotech Update
A good start to the week but it is early in many ways. We would want to see this momentum build throughout the day and more importantly build across the days. The sector has had the occasional positive day but it has been a real struggle to string positive days together. Hopefully this is […]
May 26th Biotech Update
I almost feel like we are stuck in a no news period until earnings but then I remember that we still have ASCO coming up (even though I am not sure it will provide very many fireworks for the sector). I have been talking about the sector being potentially in a trading zone but it […]
January 20th Biotech Update
So the page has turned from JPM and next is earnings and the usual rush of secondaries. Remember, however, that we had lot of secondaries to end the year, so perhaps the end of January will not be as flush with cash raising as in previous years. Earnings will likely be a little anti-climatic as […]
November 13th Biotech Update
So its been a decent week and hopefully we can end on a strong note. Not a lot of news to move the market or sector and perhaps that means we get a decent look at the underlying sentiment of the market. We are past the major catalysts of November and there is really not […]
November 6th Biotech Update
It seems like the election is all but over. The votes have turned and clearly point to a Bide victory and as of writing speculation is that Trump will admit defeat. Of course, Trump does not have to concede for Biden to win but it would assuage investors and remove the last bit of risk […]
October 12 Biotech Update
We are not starting the week with new M&A but we are starting the week with strong momentum both with the sector and the broader market. Of course, very strong broader markets have not necessarily been great in recent weeks for the sector but there is certainly a chance that we break to new highs. […]
August 6th Biotech Update
The sector came close to getting above recent highs but seemed to touch them and then pullback. It was not necessarily a bad day for the sector but also did not quite break the potential downtrend. There seems to be some positive news last night and this morning, so perhaps that will be enough to […]
July 2nd Biotech Update
The news seems to have dried up as we head into the long weekend. We had “positive” jobs data that seems to be sparking a rally. While the data are good, it is also on the back of the expanded epidemic so it seems a little unsustainable as there have been repeated closings in the […]
June 9th Biotech (and MLP) Update
Not much to talk about today after yesterday relative flood of news. The sector remains in its range and despite the negative start, the sector did make a move higher towards the upper end of its range. The market in general appears disconnected from the economic fundamentals (at least that is the twitter consensus) but […]
February 14th Biotech Update
You remember how I believed that the sector was at a decision point and was unlikely to hang out close to the recent highs without breaking out or breaking down? Yes, I remember too and of course that is exactly what seems to have happened. While I remain surprised this happened, it does not change […]
January 15th Biotech Update
The snorefest that is JPM continues with no deals and not particularly meaningful company updates. The sector was understandably weak yesterday morning but it had a pretty nice reversal during the day. I am honestly surprised at the strength of the sector given the lack of news. While perhaps strength is not the correct word […]
January 13 Biotech Update
It looks like JPM is going to be a dud. The only deal announced so far with the smallish LLY deal for DERM last week. This has to be one of the weakest news JPM I remember. Add the lack of news with Bernie Sanders recent spike in the political polls and this does not […]
January 8th Biotech Update
Iran responded and it went about as well as we could have hoped. The administration has a chance to de-escalate today and given the limited damage done with the attack last night, it should be a day of slowly decreasing tensions. Of course, what should happen and what actually happens can be different. I would […]
December 18th Biotech Update
Another slow news day or at least slow trading day. I think the market continues to drift and perhaps we get a large small volume move but markets near yearly highs tend to make marginal new highs. Of course, the marginal new highs are occasionally followed by large moves lower. As such, it might make […]
