Not a lot new in the market. The sector started off well as the broader market provided a relatively neutral if not slightly bullish backdrop. As I have been saying I expect biotech and the market to track for a little while and that another larger move is in the offering. The fundamentals of the […]
May 21 Biotech Update- A Little More Drama
It was a quiet day in the market. The sector started off well but it seemed to simply be following the broader market. I still think we are unfortunately tied to the macro and that the next move in the sector will be with the market. It could be that if the move is down […]
May 20 Biotech Update
The market remains neutral in that stocks are reacting to news in predictable ways and there does not seem any real bid or selling to the sector in general. It seems like people have their positions established and are adjusting them when new information arises but other than that there does not seem to be […]
May 19 Biotech Update- The Merger Drama
It was certainly an interesting start to the week in terms of the PFE/AZN drama but the price action outside of those names was somewhat muted (I guess also outside the ITMN move). My point is that outside the names directly related to news, there was nothing significant and more of a trending day (with […]
May 16 Biotech Update- A CLL Battle Royale
A somewhat quiet day in the market as the ASCO abstracts hangover continues. Today I am going to focus solely on PCYC and ABBV as I think I have an off of consensus view and I want to be clear on my thought process. In general, PCYC has been selling off and ABBV has been […]
May 15 Biotech Update- The ASCO Deluge Begins
So there is a lot to talk about with the ASCO abstracts and I will divide this up over a couple of days (I am trying to write quickly to get this out so excuse typos and poor grammar for the next couple of days). In general, I think the sense is that these are […]
May 14 Biotech Update- The Wait is Almost Over
Happy ASCO abstracts day. I would expect volatility as we get later into the day and perhaps some significant moves into tomorrow and then ASCO. I know the expectation of no ASCO run up but I still lean against that consensus and expect a run up into ASCO (especially if there is something to spark […]
May 13 Biotech Update- As We Wait for ASCO
Another good start for the sector today and this is certainly feeling like a change in sentiment but we need to remain cautious. That being said, I would lean toward being a more aggressive buyer on pullbacks as we are finally starting to see some bids in the mid to small cap space. I have […]
May 12 Biotech Update- Gearing Up for ASCO
We are getting into the ASCO frenzy and so it is not surprising that biotechs caught a bid this morning. It could just be coincidence or it could be yet another false start but we have been basing for a little while, so perhaps this is something more significant. The next leg higher will start […]
May 8- The Biotech Draft
While there are some stock specific pieces of news, I want to do something a little different today in honor of the NFL draft. I am going to draft my top 10 stocks. This is assuming that I have no positions at all, so this is not what I would be buying now but if […]
May 7 Biotech Update
I feel like a repeating record in that there is nothing really news worthy today and of course I am a certainly repeating myself in terms of the sector selling. I will just highlight some points that I have talked about before but seem germane for today. First, we are looking at a pretty bifurcated […]
May 6 Biotech Update- The Slow Week Cotinues
It was another pretty blah day in biotech land. I guess this is making up for all the news we have had the past couple of weeks. As I expected, the biggest news of the days is MRK business update (you can download the slides here) and the early verdict is that they are making […]
May 5 Biotech Update
Really not a lot to talk about today. The sector had a decent morning but news flow was relatively low outside of the PFE call. Even that was a little anti-climatic as it did not really add anything that we did not already know. They made the case that an AZN deal does not destroy […]
May 2 Biotech Update- The Ups and Downs of the Sector
It was a generally good day in terms of news for the sector (with notable exceptions) but the price action was bad. I think this is going to be the probable going forward in that trading will be very choppy and volatile despite positive or negative news. I do not see this trading as changing […]
April 30 Biotech Update
It is not Tuesday so the selling continues. It seems like the turnaround Tuesdays happen but have no sticking power. At some point that trend will change and that should be an important tell. Whether that happens today or in a couple of months is not clear at this time but as long as the […]
April 29 Biotech Update- A Day of Steady Progress
The rollercoaster continues as we swing up and down in seemingly ever tighter time frames. In some ways, that seems good in that base building is a messy process with fairly rapid swings. I still think the sector needs the macro environment to be at least neutral in order to really set in a base […]
April 28 Biotech Update- Turning Up the M&A Speculation
It was another interesting and good start to the week (until we got into the usual late morning selling). In fact, it seems like we were just talking about a PFE offer for AZN last Monday (oh, wait we were). Is this the reason that the sector is stronger or are we simply getting an […]
April 25 Biotech Update- Approaching a Decision Point
The sector has not particularly strong the past couple of days but neither has it come close to reaching new lows. We had a very strong start to the week, so it is only natural that part of that move needs to be retraced. The question is how much. If we are able to put […]
April 22- Building Some Momentum
Everyone loves biotechs again. Has the bottom been put in? Perhaps but there was a lot of damage done to the sector, so I would remain selective on buys and not chase any of these early moves. That being said the coast is likely clear for the near term assuming that the large cap biotechs […]
April 21 Biotech Update- Some Good News to Start the Week
You would think the morning after a holiday would not be too busy but I have been running around all morning trying to organize a number of different projects. Luckily there are really only two issues that I wanted to address today as they have import for both individual stocks but also perhaps for the […]
