83.40 -0.02 (-0.02%)
After hours: 6:56PM EDT
|Bid||0.00 x 2900|
|Ask||83.71 x 1000|
|Day's Range||80.41 - 85.06|
|52 Week Range||78.46 - 101.55|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||1.80|
|Expense Ratio (net)||0.35%|
Senator John McCain will be laid to rest this weekend, after losing his battle Saturday with glioblastoma, an aggressive form of brain cancer. Yahoo Finance's Dion Rabouin and Maylan Studart talk to Novocure Executive Chairman, Bill Doyle about its treatment that uses electric fields to fight cancer growth.
Traders that were looking for a bounce play this morning got what they needed when the indices gapped down at Tuesday's opening bell. This time there was no pre-market recovery and there was actually another leg down when the first bounce attempt after the open failed. The price action was negative enough to finally produce the sort of wash-out that produces a tradable bottom.
Biotech price action at all capitalization levels has deteriorated in recent weeks, with the two major sector funds giving up the majority of their 2018 gains. The iShares Nasdaq Biotechnology Index Fund ( IBB) and the SPDR S&P Biotech ETF ( XBI) carve different price patterns due to their unique holdings and construction. The market-cap weighted Nasdaq fund is dependent upon its biggest components, with Amgen Inc. ( AMGN), Gilead Sciences, Inc. ( GILD), Biogen Inc. ( BGEN) and Celgene Corporation ( CELG) comprising more than 32% of portfolio weighting.
The easy trade this morning would have been a big emotional gap down open but every algorithm out there was ready to buy that setup so they ended up buying before the open instead. The big bounce in futures occurred in the two hours before the open and undercut the easy 'buy the dip' setup.
Welcome to the final quarter of the 2018 Best ETFs contest, which is, admittedly, also our first Best ETFs contest.
There has been no shortage of encouraging news over the past few months across the biotech sector, but the patterns that are appearing on several key charts are suggesting that the story could be in the early stages of shifting. Active traders who are looking for exposure to biotechnology often turn to exchange-traded products such as the SPDR S&P Biotech ETF. As you can see from the chart below, the price has been trading along a well-defined trendline over the past couple of years, but the recent close below the trendline suggests that the ETF is in the early stages of a downtrend.
Portola Pharmaceuticals’ (PTLA) net revenues grew from $3.79 million in the second quarter of 2017 to $4.01 million in the second quarter of 2018, which reflected ~6% year-over-year (or YoY) growth. Portola Pharmaceuticals’ net revenues grew from $8.92 million in the first half of 2018 to $10.66 million in the first half of 2017, reflecting ~20% YoY growth.
Cara Therapeutics (CARA) is a clinical-stage biotechnology company that develops new chemical entities for managing pain and pruritus. It reported EPS of -$0.52 on revenues of $2.87 million in the second quarter.
Ionis Pharmaceuticals (IONS), a leading biopharmaceutical company, has developed a variety of drugs for the treatment of life-threatening diseases through its broadly applicable drug discovery platform. Ionis reported earnings per share of -$0.29 on revenues of $117.7 million during the second quarter, reporting year-over-year growth of 5.0% during the quarter. The chart below compares the company’s revenues since the first quarter of 2017.
Author Evan McCulloch Senior Vice President, Director of Research Franklin Equity Group® Portfolio Manager, Franklin Biotechnology Discovery Fund Since hitting an all-time high in July 2015, biotech stocks, as measured by the NASDAQ Biotechnology ...
As discussed earlier, Sage Therapeutics’ (SAGE) portfolio includes products under development for the treatment of life-threatening central nervous system (or CNS) disorders through two different programs: GABA receptor systems and NMDA receptor systems.
All three major biotechnology ETFs—the SPDR S&P Biotech ETF (XBI), the iShares NASDAQ Biotechnology Index (IBB), and the ProShares Ultra Nasdaq Biotechnology ETF (BIB)—have posted returns of ~1% in last month, starting on August 10. That compares unfavorably with the performance of the SPDR S&P 500 ETF (SPY), which returned ~1.7% in the same period.
The solid performance of the healthcare market in the first eight months of 2018 has created investment opportunities. These ETFs are poised to take advantage.
Bluebird Bio (BLUE) is a clinical stage biotechnology company. It reported a net loss of $2.91 per share on revenues of $7.8 million in Q2 2018, a 53% decline YoY (year-over-year) compared to $16.72 million in the second quarter of 2017.
Incyte’s (INCY) consolidated revenue increased to $521.51 million in the second quarter compared to $326.44 million in the second quarter of 2017.
Sarepta Therapeutics (SRPT), a commercial-stage biopharmaceutical company, develops unique RNA-targeted therapeutics, gene therapies, and other medicines for neuromuscular diseases. It released its Q2 2018 earnings on August 8 and surpassed Wall Street analysts’ estimates for EPS and revenues. It reported adjusted EPS of -$0.43 on revenues of $73.5 million compared to the estimated EPS of -$0.89 on revenues of $71.6 million.
As discussed earlier, Ionis Pharmaceuticals (IONS) reported year-over-year (or YoY) growth of 5% in revenues to $118 million during Q2 2018 as compared to revenues of $112 million during the second quarter of 2017. Ionis missed Wall Street analyst estimates for revenues and EPS in Q2 2018. Ionis reported commercial revenues of $57 million during Q2 2018, over 100% growth as compared to commercial revenues of $24 million during the second quarter of 2017.
Sarepta Therapeutics (SRPT) is a commercial-stage biopharmaceutical company. Sarepta develops unique RNA-targeted therapeutics, gene therapies, and other medicines for neuromuscular diseases.
As the name suggests, the biotechnology sector combines elements of biology with the development and manufacturing of products and business ventures. Both of these components have experienced unbelievable advances in recent decades, making the biotechnology area an exciting one for investors. Best of all, biotechnology's impact covers an ever-expanding range of tangential fields and areas, including medicine, pharmaceuticals, the environment, food, genetics and much more.
Today, Biogen (BIIB) announced its earnings results for the second quarter of fiscal 2018. The company’s sales and earnings came in ahead of Wall Street estimates. Biogen’s spinal muscular atrophy drug, Spinraza, registered sales of $423 million in Q2 2018, which almost doubled compared to the $203 million sales reported in Q2 2017.