Yesterday was a busy day and ended up being a little crazier than I planned but I am not back in the office and ready to think about some biotech. I did not have a chance to check the market yesterday so I am not sure how it traded but it seems like it is […]
June 6 Biotech Update
Today was the first day in a little while that the sector seemed noticeably weaker than the broader market. Perhaps this is simply natural variability, perhaps it is simply a slow trading day with random price action, or perhaps it is an early warning signal for a broader market correction. What seemed interesting is that […]
May 23 Biotech Update
I expect today is going to slow dramatically as people get ready for the long weekend. As such, I want to get this out as early as possible to catch everyone. That being said there are a couple of things I want to touch on before the weekend. 1. How times for changed for GILD […]
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 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 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 […]
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 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 23 Biotech Update- Shooting Out of the Earnings Gate
This was a relatively slow news day (compared to yesterday and Monday) but there is still a lot to talk about with the large cap earnings. The sector did not responsd great but it is still early and I want to see how it closes before judging this reaction. In addition, the market backdrop was […]
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 11 Biotech Update- The Beating Continues
Well, there is not much to say about the market and sector other than selling is in vogue and there does not seem to be a clear catalyst that could change the tone of the market. I would also remind you that the apparent catalyst of this negative turn (pricing letter from Congress to GILD) […]
April 8 Biotech Update- Revenge of the Pricing Questions
While I was expecting to talk a little about AGIO today, I want to go back to the macro sector sentiment as the proverbial hits keep on coming with ESRX making more noise about Sovaldi prices. In general, ESRX is arguing that GILD is going to bankrupt the entire healthcare system and that they will […]
Catalyst Watch – Vol. 2, Edition 10 (4/4/14)
Below are current tactical and strategic thoughts on approaching FDA and clinical trial catalysts for select names. Estimates, values and views are as of the date published (or are noted), are subject to potential future, pre-catalyst revision and are not intended as investment recommendations. Please read our Disclaimer: (1) Catalyst Watch List – Update: CYTK: […]
March 31 Biotech Update- Is this the Bounce We are Looking For?
So this seems to be the rally we were looking for but that is assuming it does not fade in the afternoon like every other recent rally attempt. So far the rally is a little more broad based and stronger but we have seen this story before. That being said even if this is the […]
March 25 Biotech Update- Would it Help to Cry Uncle?
Today certainly started as a better day in the sector but I would be careful of chasing this move. Ideally, we spend time building a base but a day or two of running is possible given the oversold conditions in the space. At this point I would lean towards the sector having put in a […]
March 24 Biotech Update- Being Kicked When You Are Down
Every sell off starts the bubble talk and the more severe the selling the more intense the bubble talk. What is interesting about this time is that the bubble talk has a broader audience as the sector seems to have been on more radars. As I have been saying for awhile, this sell off is […]
March 21 Biotech Update
[This was written Friday but the site was down and I was unable to post it. I am publishing it as it was Friday and will write another column later today for more recent news] Well, it was a manic day with a very nice win followed by the broader morning bloodbath in the sector. […]
March 14 Biotech Update- Seeing Red as Value or the End?
Interesting morning for the sector with the broader market relatively unchanged and the biotech sector selling off hard. Why would this be the case? Is it something fundamental to the sector or just jittery traders dumping unnecessarily? Given the macro uncertainty in the Ukraine it could just be the case that traders are reducing risk […]
March 7 Biotech Update- Selling Feeding Selling
I am going to spend today talking about the sector in general and send this note out early in light of the significant sell off that started yesterday afternoon and continued this morning. While the bulk of the discussion seemed to center on GILD it should be noted that it was the sector that got […]
March 5 Biotech Update- Rumors Dispelled
I am back from vacation and it looks like I did not miss much (I say tongue in cheek). Of course, even though I missed two big days of trading, my portfolio is basically unchanged since I left. I think that just goes to show how volatility is dangerous for a portfolio as one is […]
