Thursday’s are always busy and today is no different. I wanted to post a quick update in terms of ECYT. 1. As I noted yesterday, I contacted the company and I did eventually get a response. Essentially, ECYT does not want to discuss anything about the CHMP process with individuals for fear of selective disclosure. […]
February 26 Biotech Update- Questions about Questions
The broader market and sector is more of the same so I will focus less on the macro simply because nothing has really changed. There are two stocks of interest this morning and both are fairly relevant, so I will get this note out sooner than usual and with less editing than usual (so it […]
February 25 Biotech Update- Some Upcoming Catalysts
It is another day with the sector trading basically in line with market and the real outperformers/underperformers have news associated with them. At this point the real tension in the sector is between the clear continuation of the rally and the fear/expectation of a larger macro correction that will take the sector down with it. […]
February 24 Biotech Update- Blowing Bubble Talk (Again)
The broader markets certainly started the week off strong and took the biotech sector with them. That being said I did not see any really strong outperformance. The large caps were up but generally in line with the broader market and small caps more or less the same. So I really see today’s move as […]
February 21 Biotech Update- Data and Earnings Movers
Today seemed like a mixed day. There was certainly some areas of strength but nothing really seemed to catch a bid outside of news specific movers. While I do not know if this is true in terms of the performance, the sector really seemed sort of heavy early in the morning. Eventually some buyers came […]
February 20 Biotech Update-: Onconova Disappoints
It is a bust day and I do not have much time to write. I wanted to get something quickly out on $ONTX. You can read my street article that talks about what went wrong. In general, $ONTX got tripped up just where we figured it might. That being said the trial was close (as […]
February 19 Biotech Update- Talking Gene Therapy
We have had a strong couple of days and clearly the biotech rally is in continuation mode but I still would not be surprised to see a day or two like today where it rests a little. Keep in mind that the IBB index is essentially an index of large cap biotechs and will move […]
February 17 Biotech Update- A Presidents Day Bonus
The market is obviously closed today but I wanted to have a brief note because I am not sure I will have time to write anything significant tomorrow. 1. One question that has been in the back of my mind is M&A. I keep expecting to see more as BMY, GILD, PFE, and others have […]
February 14 Biotech Update- A Churning, Choppy Day
The market has been good the past couple of days with biotechs continuing higher, although it still seems to me that we are in a pause that should refresh as opposed to being ready to move higher. In some ways it depends on the macro environment but perhaps we will finally get to a stock […]
February 12 Biotech Update- Getting Stretched or the Pause that Refreshes?
It seemed more like a treading water day in the market than a directional move, which is again not bad for biotech. It is said that markets do not give you a lot of time to sell at the top or buy at the bottom and to me this means that the sideways trading is […]
February 11 Biotech Update- Some Positive Catalysts
It was a good day for the broader markets and a decent day for biotechs, although it seemed a little like a mixed bag with some stocks underperforming the rally. That being said simply following the broader market higher at this point is good for biotechs and likely means that this rally (relief or continuation) […]
February 10 Biotech Update- A Choppy Start to the Week
It was a choppy and mixed morning with the market and sector looking for direction. There were winners and losers across the sector and market caps. After a large up day, it is not necessarily bad for the market to settle down to digest the move. All of that being said, if I had to […]
February 7 Biotech Update- Recovery Edition
Despite the disappointing jobs report, the market held up fairly well and the biotech sector doing well (and seems to be getting relatively stronger as the day goes on). Large caps appeared to be a little stronger than the broader market, although perhaps that would have been more pronounce if it were not for GILD […]
February 6 Biotech Update- A Mixed Day
It is good day in the market but a bad day for large cap biotechs as most underperformed (large cap pharma was a little different but still not great). Small and mid caps seemed to do better but I would not say that they clearly outperformed the market (but still did better than the large […]
February 5 Biotech Update- How Now Brown Cow?
I said yesterday that I was not convinced that the coast was clear and today shows why. My hunch is that the market is hurting both bulls and bears and the best play is to stay on the sidelines unless a stock comes to you. Forcing a trade or trading out of boredom in the […]
February 4 Biotech Update- A Breather
It was certainly a much better day in the market but after the selling days like today are more breathers than anything else. It all comes down to how the market performs the next week or so and not the day after a large down day. In some ways I am encouraged that the gap […]
February 3 Biotech Update- The Bloodbath Edition
It was another rough day in the market with a familiar pattern- market weak, large cap biotechs outperforming the broader market and small cap biotechs underperforming. It makes sense in that risk off means selling biotechs but large cap biotechs have a valuation buffer in their growing free cash flow. This is not to say […]
January 31 Biotech Update- The Hep-C Competition Heats Up
The market was just a little weak this morning and biotechs responded as one would expect, although despite the sea of red I kept thinking that it could be have been worse. Today was certainly not a good day but the market is starting to provide us some good bargains. There could be a larger […]
January 30 Biotech Update- CELG and ONTX on the Move
Today was clearly a nice bounce back day and it remains to be seen whether this is a relief rally or the continuation of the larger trend. I have been talking about the large cap earning reports as being important indicators and you are generally seeing them being non-events in terms of price movements. Most […]
January 29- Biotech Update
Would you believe another snow day in Louisiana, which is number three in the past couple of weeks (if you were counting). In general, despite a very weak market , biotechs did fairly well, although it was the large caps holding up the sector with the small caps more mixed. It was nice to see […]
