|Bid||105.31 x 1100|
|Ask||105.60 x 900|
|Day's Range||102.37 - 105.72|
|52 Week Range||62.94 - 108.05|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||9.36%|
|Beta (5Y Monthly)||1.31|
|Expense Ratio (net)||0.35%|
The market’s erratic response to lukewarm medical research for COVID-19 treatment and vaccine candidates isn’t expected to slow down as investors pin their hopes for an economic recovery on the high-risk biotechnology sector.
Investors have been bullish on biotech, in the hope that companies will soon come up with a treatment, cure, or vaccine for Covid-19. But there’s more to biotech than the coronavirus, and even though these ETFs have risen, they could have farther to go.
Telehealth companies enabling individuals to see physicians without stepping foot into a physical doctor’s office are having their moment, as the coronavirus pandemic confines individuals and would-be patients across the country largely to their homes.
Professor of Medicine at Yale and Director of The Yale New Haven Hospital Center for Outcomes Research and Evaluation Dr. Harlan Krumholz joins Yahoo Finance’s Seana Smith to discuss Moderna’s recent headway in an early-stage coronavirus vaccine trial.
Biotechnology-themed exchange-traded funds surged higher late Monday morning as investors rewarded pharmaceutical companies that looked likely to profit from treatments for COVID-19. The SPDR S&P Biotech ETF was up 3.1%, and the iShares NASDAQ Biotechnology ETF gained more than 2%. Two funds with the most exposure to the company making headlines in the morning, Moderna Inc. , jumped even higher: the Loncar Cancer Immunotherapy ETF , with a 13% allocation to Moderna, was 4.8% higher, and the iShares Genomics Immunology and Healthcare ETF was 5% higher. In the year to date, XBI has gained 11.7%, compared with a 8.8% decline for the S&P 500 in that period.
Will markets go up or down as we move toward summer? No one knows for sure, but one metric to watch is activity among short sellers — investors who believe a particular security will decline in value.
Shares of Cassava Sciences Inc. tumbled 73.2% in trading on Friday after the company said its investigational Alzheimer's disease treatment failed a mid-stage trial. The experimental drug, PTI-125, did not meet the primary endpoint (reducing cerebrospinal fluid (CSF) levels of tau protein) in the Phase 2b study; however, it did meet a secondary endpoint, reducing CSF levels of another biomarker, IL1-beta. The therapy was being tested in people with mild and moderate forms of Alzheimer's. "Today's top-line results disappoint and are not consistent with previous clinical experience for reasons that are unclear at the moment," CEO Remi Barbier said in a news release. Cassava's stock is down 60% year-to-date. The SPDR S&P Biotech Exchange-Traded Fund has gained 4.2%.
JP Morgan Private Bank Head of Cross-Asset Thematic Strategy Anastasia Amoroso joins Yahoo Finance’s Seana Smith to discuss the latest market action as more states move to reopen their economies in the wake of the coronavirus.
Harvard Global Health Institute Assistant Professor in Department of Health Policy and Management Dr. Tom Tsai joins Yahoo Finance’s Seana Smith to discuss the best time to reopen the economy amid the coronavirus outbreak.
Reuters reports that Warner Music Group and Cole Haan have both halted plans to go public this week due to the coronavirus. IPO expert & Business Professor at the University of Florida Jay Ritter joins Seana Smith on The Ticker to discuss.
Despite concerns of a spreading coronavirus out of China, biotechnology stocks and sector-related ETFs are not enjoying the usual bump on hopes of developing new treatments to counter the contagion. Among the worst performing non-leveraged ETFs of Friday, the Virtus LifeSci Biotech Clinical Trials ETF (BBC) declined 3.4% and SPDR S&P Biotech ETF (XBI) decreased 3.2%. Meanwhile, the more broadly watched iShares Nasdaq Biotechnology ETF (IBB) fell 2.5%.
Broadly speaking, drug stocks have been some of the strongest performing names in the latter part of 2019.Since October 2019, the iShares NASDAQ Biotechnology ETF (NASDAQ:IBB) has rallied from a low of $96 to nearly $124. The SPDR S&P Biotech ETF (NYSE:XBI) exploded from $75 to a high of $98.79. Even ProShares Ultra NASDAQ Biotechnology (NASDAQ:BIB) popped from a low of $41 to a high of nearly $65.All despite concerns over potential changes to drug pricing policies with elections ahead.InvestorPlace - Stock Market News, Stock Advice & Trading Tips"While we get the sense that biotech investors are cautious into 2020 with the election and broader macro concerns, we believe that macro issues are unlikely to have material fundamental impact," says Credit Suisse's Evan Seigerman.Wedbush analysts argue, "The fundamentals of the sector look strong. Biotech surged in the third quarter, approvals from the Food & Drug Administration are coming through above the average annual rate, the valuation of large-cap biotechs are attractive, and there have been significant mergers and acquisitions in past years."Plus, one of the biggest catalysts for future growth are the millions of retiring baby boomers.We're also seeing new, innovative treatments for a myriad of issues. In addition, such stocks are recession-proof because folks will always require medical attention. * 10 2019 Winners That Will Be 2020 Losers Here are three of the top biotech stocks to watch in the New Year. Top Drug Stocks: Fate Therapeutics (FATE)After struggling out the gate, Fate Therapeutics (NASDAQ:FATE) exploded from a low of $14 to $20 a share after posting positive trial results from its natural kill (NK) cell product candidate.With regards to data from its natural killer (NK) cell product candidate, "Current patient- and donor-specific CAR T-cell immunotherapies recognize only one antigen and fail to address the significant risk of relapse due to antigen escape. FT596 is ground-breaking in that it is designed to be available off-the-shelf for timely patient access and to promote deeper and more durable responses by targeting multiple tumor-associated antigens," said Bob Valamehr, Ph.D., Chief Development Officer of Fate Therapeutics.The company's other natural cell killer was also found to kill off cancer in a patient with acute myeloid leukemia (AML). Wells Fargo recently upgraded the FATE stock to an overweight rating with a target of $24. Axsome Therapeutics (AXSM)Axsome Therapeutics (NASDAQ:AXSM) had an explosive year. Since January 2019, AXSM stock exploded from a low of $2.64 to a recent high of $105.55. All after a series of major announcements, throughout the year. In January, for example, AXSM noted that its lead drug candidate, AXS-05 met its primary endpoint in a Phase II trial for major depressive disorder.Two months later, AXSM won FDA Breakthrough Therapy for the drug. By April, the drug also achieved its primary endpoint for smoking cessation. By December, its AXS-12 drug met its primary endpoint in a Phase II trial targeting narcolepsy.Then just two weeks ago, the AXSM stock ramped higher on news of positive late-state results for AXS-05, as a treatment of major depressive disorder. * 10 Stocks That Every 30-Year-Old Should Buy and Hold Forever "Given the documented medical need for more potent MDD therapies, and the fact that a whopping 17 million American adults suffer from this condition every year, according to the National Institutes of Health, this experimental depression med has a clear path toward blockbuster status," noted Motley Fool contributor George Budwell. Pfizer (PFE)Last year wasn't kind to Pfizer (NYSE:PFE) or its shareholders. In late July, PFE plunged 21% on company plans to combine its blockbuster drug-selling unit with Mylan (NYSE:MYL), and announced it was cutting its sales and adjusted earnings forecast.However, with a strong drug portfolio, acquisitions, and an undervalued stock, PFE is attracting interest once again. The company also just raised its dividend by 5.6%, which brings the new quarterly dividend to 38 cents from 36 cents payable March 6, 2020 to shareholders as of Jan. 31.Plus, "the valuation on new Pfizer looks appealing, given management's expectation of 6% annualized sales growth through 2025, which could produce 10%-plus yearly gains in earnings per share. New Pfizer has important patent-protected drugs like Ibrance for breast cancer and the pneumonia vaccine Prevnar, plus a strong pipeline," notes Barron's contributor Andrew Bary.As of this writing, Ian Cooper did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 2019 Winners That Will Be 2020 Losers * 5-Year Returns for 5 Dow Jones Stocks Entering 2020 * 5 Semiconductor Stocks to Buy for Big Gains In 2020 The post 3 Top Drug Stocks to Own In 2020 appeared first on InvestorPlace.
Amid a plethora of challenges, Wall Street was on a spectacular run over the last decade, rising from the depths of the financial crisis and Great Recession.