The biotechnology sector showed some life last week as it bounced from weekly lows and ended flat on the week. The iShares Nasdaq Biotechnology ETF (IBB) is down 7.1% on the month but up 17.3% YTD. Watch the large cap players in this space.
Biogen (NASDAQ: BIIB) received an outperform and a $350 price target from Oppenheimer on Nov. 9. Last month, Celgene (NASDAQ: CELG) reported its SUNBEAM trial, comparing its drug to that of Biogen’s Avonex, yielded better results. CELG stock is also on the mend after falling to as low as $94.55 and closing at $104 on November 17.
AbbVie (NYSE: ABBV), which is near yearly highs, has a dividend yielding around 3 percent. Last month, it issued 20017 EPS earnings guidance of $4.27 - $4.29 a share. Next year, it expects non-GAAP earnings of $6.37 to $6.57 a share.
Gilead Sciences (NASDAQ: GILD), which rebounded from June lows, peaked in September and is now $72.44. Last month, it reported revenue falling 13.2% to $6.5 billion. Its top-selling product is Genvoya at $988 million, followed by Harvoni at $973 million.
