I am still convinced that the biggest macro risk for the market remains Syria. While there remains a chance that there is ultimately no attack, it seems that the past couple days has been a buildup of assets around Syria to allow for a more robust campaign. The final decision has not been made but […]
April 9 Biotech Update
I picked the wrong day to be out of the office. I thought the news will be in a lull before AACR picked up later this week. I guess I was wrong (on multiple fronts). The trading leading into AACR and during AACR will be key to the sector getting a more sustained move higher. […]
March 22 Biotech Update
Sector is down, although it is not clear if that is the sector or the prospects of a trade war with China that is bringing down the whole market. Between trade wars, the hawkish fed, and other potential macro issues, it seems that we might be entering into another period of macro trades affecting sector […]
March 16 Biotech Update
The sector did not really have an encouraging day yesterday. Instead of broadening out the rally, the previous leaders slipped and nothing picked up the slack. There was a chance for the large caps to move the rally forward but they did not do so. Of course, no one should worry too much about a […]
March 8 Biotech Update
Some interesting news happening in the sector that might have some pin action more broadly. In general, it seems like the broader market is getting its legs, which is likely good for the sector as it has been doing well without additional M&A (which is very likely coming this year). 1. There was a healthcare […]
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 22 Biotech Update
A little pick up in the news flow but clearly the sector has been tied to the broader market in the immediate term. The spike in interest rates caused by the Fed minutes took the market and the sector down. While the direct impact of raising interest rates on the sector is minimal, it does […]
February 21 Biotech Update
There is not a lot of news to start the day, so this can be relatively quick. In general, it seems that the market is slowly getting back to a lower volatility period, which is not necessarily bad. The sector was doing well when volatility was lower, so expectations should be that would continue in […]
February 16 Biotech Update
There has been some interesting news to end the week. The market seems to have recovered its footing a little and this includes the sector. There is still some work to be done to repair the damage of the sell off but so far so good. 1. NBIX has been interesting. I thought it would […]
January 26 Biotech Update
The market is relentless. Just as it is important to buy when the market seems to be going down forever, it is also important to sell on these sort of rips higher. The selling at the high levels is always more difficult for me, so I want to spend some time today talking about potential […]
January 16 Biotech Update
Some interesting news to start the week. I suspect it will be good enough to help the sector as it was a little surprising and definitely early. We have still not seen the massive uptick in secondaries (a couple are happening) but that is likely only a matter of time and will likely mark the […]
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 […]
December 7 Biotech Update
I thought we would have to wait until ASH to get a good tell on the market but if the sector cannot hold onto gains today, then there is a real issue. There is good news across the board and different types of good news. These are the fundamental news days that are where investors […]
November 20 Biotech Update
The news is winding down as we get closer to the holidays but there is some news today. For the most part, I do not expect a lot of news but there could be an M&A push to end the year if bankers need more deals for their bonuses. That being said I think we […]
October 12 Biotech Update
Volume continues to be anemic but perhaps it will start to pick up into a series of conferences (world lung and SITC) and earnings. I say perhaps but it would be difficult for it not to pick up, so the real question is when the increase starts and perhaps the posting of the late breaking […]
September 8 Biotech Update
The sector has been doing well but it seems to have been a bifurcated market with big winners and losers. The broader market seems to be listless which is not helping. My low conviction view is that the sector looks ready to lead another leg higher but we need broader market participation for it to […]
September 6 Biotech Update
We have some more news this morning in the sector that I will focus on today. In terms of generalities, it is nice to see positive news being rewarded and while this seems like a natural state of affairs, there was a time where good news was not rewarded. The ability of positive fundamentals to […]
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 27 Biotech Update
There is a lot to talk about today, so I will jump right into the most interesting and important news. 1. MYSTIC did not meet the primary PFS endpoint. There was no PFS benefit over chemo with either monotherapy or combination. This is disappointing but not necessarily the end of the story. While the details […]
