Barrons says the news from ASCO isn't bright for Gilead, Onyx, and BioMarin
Quote from Barrons:
"Drug stocks have had a good year so far amid growing excitement over pipelines that are ripe with exciting new drugs. The Nasdaq Biotech Index has jumped 31% since the start of the year. And the NYSE ARCA Pharmaceutical Index has climbed a more sedate 14%.
But for some stocks, the news from ASCO isn’t bright.
BioMarin Pharmaceuticals (BMRN) slumped 7.8% to $57.78 after the company reported Monday morning that its experimental drug BMN 673 meaningfully shrank the tumors of less than half of the breast and ovarian cancer patients on which it was tested.
Shares of Onyx Pharmaceuticals (ONXX) shrank 6.5% to $89.24 after its drug Nexavar helped to stall the growth of a rare type of advance thyroid cancer but made no difference in patients’ overall survival. So that could hurt the drug’s commercial opportunity, according to Barclays Capital analyst Ying Huang.
And after presenting data on its experimental leukemia drug, Gilead Sciences (GILD) fell 3.1% to $52.77."
Any half wit could see this move is about basic market conditions and a healthy rotation, than it is a retreat. Your terrified, or you wouldn't be trying this hard patrolling a board for months trying to scare pennies out of a retail clients. What's more pathetic, is you have little thought of the company your bashing, the industry, or it's possible benefit to your wormy existence. Why don't you get a job stocking shelves in RiteAid, where you can be around pharmaceuticals, learn something about the industry, and make enough $ to get out of mom's basement! That way you won't have to bash a company you know little about.
Barrons singled out Gilead to be grouped with the other data faliures at ASCO. They did not single out Biogen or Celgene or Alexion. No, that honor goes to Gilead. You should be asking why that is, instead of reflexively blaming GILD's stock weakness on macro events.