Investors seem amazed at the strong move in biotech stocks. This is largely a case of a rising tide lifts all boats. Biotech is slowly coming to dominate new drug production. Large pharmaceutical companies are increasingly desperate to refurbish their drug pipelines, hence the steady pace of buyouts. Speculation as to who is next is lifting most biotech stocks. Further, biotech is now a growth industry. Noted analyst Byron Wien in a recent interview on CNBC restated the emerging theme that an aging population will need more good drugs and biotech will be the source. IMGN is a "platform" technology stock, which makes its long-run potential above average, even for such a strong group.
yes, I and many here have known this for 25 years. Now just tell us which biotech's have the best products, pipelines, management and relative valuations and we will have something. Which company(s) are the next CELG, REGN, ALXN, etc. IMGN might be rising, but it's rising from the ashes and still a relative laggard/loser.