Stock Gains Skipping Biotech (GENZ, CELG, GILD, AMGN, BIIB, ALXN, MNKD, HGSI, VVUS, DNDN, BBH, XBI, QQQQ)
Biotech and emerging pharma both seem to have almost no friends today despite a large stock market rally. It may take a resolution of the Genzyme Corporation (NASDAQ: GENZ) merger, and a successful resolution at that, to get interest going…
Those issues covered are Celgene Corporation (NASDAQ: CELG), Gilead Sciences Inc. (NASDAQ: GILD), Amgen Inc. (NASDAQ: AMGN), Biogen Idec Inc. (NASDAQ: BIIB), Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN), MannKind Corp. (NASDAQ: MNKD), Human Genome Sciences Inc. (NASDAQ: HGSI), VIVUS Inc. (NASDAQ: VVUS), and Dendreon Corporation (NASDAQ: DNDN)… most of which were flops this last week while the NASDAQ and the broader stocks performed well. We also compared the Biotech HOLDRs (NYSE: BBH) and SPDR S&P Biotech (NYSE: XBI) to the PowerShares QQQ (NASDAQ: QQQQ) to highlight some of the underperformance.
Read the full report at BioHealthInvestor.com
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Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.