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 […]
May 22 Biotech Update
Yesterday sort of followed the potential new pattern of gaining strength throughout the day but volumes were a little low as we approach the holiday weekend. I suspect today will be even worse, so I will refrain from making any real interpretations of the moves given the lack of volume. 1. There is a lot […]
May 6 Biotech Update
Well, we finally get another deal and it is pretty telling how the sector reacted. Obviously there is a tailwind but it is not universal and we need to see how it plays out today. There is a tug of war going on in the market and sector and it is amazing that the same […]
Chimera Research Group Catalyst Summary for April 2015
At the end of each month Chimera Research Group provides you with a monthly summary of ten notable catalysts/events that have been completed during the past month. APRIL 2015: Gilead Sciences (NASDAQ: GILD) exceeded analyst expectations reporting $7.6 billion in first quarter revenue , including $4.55 billion from their HCV portfolio of Harvoni and Sovaldi. Revenue […]
May 1 Biotech Update
What a difference a day makes. Yesterday nobody wanted to buy a biotech and there was nothing that could ever happen that could reverse the selling. A giant GILD beat was expected and would only lead to more selling. A funny thing happened along the way to the proverbial park. Obviously the selling has been […]
April 29 Biotech Update
This has to be a quick note as this morning is busy but clearly the market is teetering. The bounce this morning is nice but we need a lot more than a bounce to really make a believer out of investors. The silver lining is that the volume on those down days was very high, […]
The Week Ahead in Earnings
A second busy week of earnings is due out in the space this week. We will see 3 of the 4 remaining large caps report (Gilead, Celgene, Vertex) and a smattering of big pharma reports as well. Given the sell off today, earnings reports could stem the fall, or exacerbate it further with poor results. […]
April 27 Biotech Update
The sector has to deal with both some negative headlines and the lack of any deals on Merger Monday but it is difficult to read too much into the action this morning as we are going to get a lot of earnings this week. So I would wait and see how we are at the […]
April 22 Biotech Update
Another busy day so I have to keep this very short as I am trying to squeeze this in between meetings. In general, the sector seems to be doing fine and modestly outperforming the market. It remains to be seen if this is a sustainable move or whether it is a bounce from new M&A […]
April 21 Biotech Update
A lot of news to cover and I want to get to it all, so maybe a little less detail and more topics today and I will circle back to the ideas over the next couple of days. In general, the sector is doing well with the deal flow news but I will talk more […]
April 10 Biotech Update
A good opening to the sector and large caps but the move was almost immediately faded (especially the large caps). Yesterday ended better than the past, so perhaps the sector can recover and regain the lost ground but I still worry about this pattern of strong openings that are continually sold throughout the day. It […]
April 8 Biotech Update
It was actually a good morning for the sector with large and SMID caps doing well. While that is a good first step, we need these moves to not only stick but strengthen at the end of the day. Another fade would indicate that the selling pressure remains a headwind. The sector is in an […]
March 30 Biotech Update
It looks like we have all survived the great biotech sell off of 2015. To be honest, I am not sure this really counts as a sell off (yet). We have been spoiled by the steady march higher and while this is a nice bounce, we were also very oversold in the short term. Add […]
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 13 Biotech Update
I know that the sector is doing well and near highs but I cannot shake the feeling that the stocks feel heavy. I do not have a better way to describe it nor anything more solid than this impression. Perhaps this is simply the wall of worry that we are going to climb. If I […]
March 6 Biotech Update
It seems like every day I write this week is a weak start to the morning. It is not surprising that the sector is pulling back after the run yesterday and the renewed bubble chatter. Every run in the sector the past two years has brought out the bubble chatter and every time it was […]
February 27 Biotech Update
The sector seems to be a little weaker than the market although the moves are relatively small, so there is probably not a lot one can read into it. That being said the momentum higher has clear paused and perhaps reversed a little but given the volume and small moves the market appears to have […]
February 20 Biotech Update
As much as I have disliked this recent move higher in terms of not trusting it, you have to respect how well the sector is climbing the wall of worry. My hunch is that we are going to start to see another round of bubble trouble pronouncements. Clearly the sector is not a cheap as […]
