- Barrons.com•19 hours ago
RBC's Michael Yee and team contend that biotech stocks like Amgen (AMGN), Biogen (BIIB), Celgene (CELG), Gilead Sciences (GILD), and Alexion Pharmaceuticals (ALXN) are looking past the political risks: The SPDR S&P Biotech ETF (XBI) biotech index is up +13% in a month vs S&P500 +5% and we think political rhetoric and fear about drug pricing legislation which has been one of the primary overhangs on biotech stocks could be starting to move behind us as we go into H2:16. Indeed, given the large correction in the past year and rotation out of biotech, we think the market is starting to get more comfortable with the political environment and this could be an important shift and one of the key factors in driving stocks higher and removing the overhang.
After hours: 290.000.07 (0.02%) as of 7:44 PM EDT
|Bid||276.43 x 100|
|Ask||290.54 x 100|
|52wk Range||223.02 - 338.51|
|Day's Range||286.80 - 290.46|
|Avg Vol (3m)||1,880,711|
As of 4:00 PM EDT. Market closed.