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Biotech Stocks Continue To Soar, More Gains To Come
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Subscribe →Biotech stocks continue to soar, and Biogen and Gilead had big days on Friday. Biogen jumped by nearly 4 percent, taking shares up $368, after reporting robust result on Thursday. Gilead shares jumped by over 5 percent, to over $85, after getting an upgrade from Jefferies and a price target increase to $95.
We have been talking about these two stocks for some time, and the breakout shouldn’t surprise anyone. It seems like the other day when we were focused on Biogen breaking over $318, and Gilead potentially rising to $82.
There appears to be very little standing in the way from Biogen rising to about $400 from its current level.
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Gilead also has very little standing between its current price and a rise to $92 as well, but that, of course, doesn’t mean it happens in a straight line.
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Regeneron shares have moved out of its downtrend for the first time since June of 2017. That could help the stock rise to about $420. We can see in the chart the stock test the downtrend and it bounced. With the strength of the sector, the setup looks good.
Alexion shares also look close to a big breakout, and could see a rise to about $145.
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Vertex has also seen its shares rise substantially.
With many of the big biotech stocks coming back and primed for more gains, the sector is likely not finished rising.
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Michael Kramer and the clients of Mott Capital own shares of ACAD
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Tags: #biotech #stocks #biogen #gilead #acadia #regeneron #vertex #alexion
This report contains independent commentary to be used for informational and educational purposes only. Michael Kramer is a member and investment adviser representative with Mott Capital Management. Mr. Kramer is not affiliated with this company and does not serve on the board of any related company that issued this stock. All opinions and analyses presented by Michael Kramer in this analysis or market report are solely Michael Kramer’s views. Readers should not treat any opinion, viewpoint, or prediction expressed by Michael Kramer as a specific solicitation or recommendation to buy or sell a particular security or follow a particular strategy. Michael Kramer’s analyses are based upon information and independent research that he considers reliable, but neither Michael Kramer nor Mott Capital Management guarantees its completeness or accuracy, and it should not be relied upon as such. Michael Kramer is not under any obligation to update or correct any information presented in his analyses. Mr. Kramer’s statements, guidance, and opinions are subject to change without notice. Past performance is not indicative of future results. Neither Michael Kramer nor Mott Capital Management guarantees any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment commentary presented in this analysis. Strategies or investments discussed may fluctuate in price or value. Investments or strategies mentioned in this analysis may not be suitable for you. This material does not consider your particular investment objectives, financial situation, or needs and is not intended as a recommendation appropriate for you. You must make an independent decision regarding investments or strategies in this analysis. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Before acting on information in this analysis, you should consider whether it is suitable for your circumstances and strongly consider seeking advice from your own financial or investment adviser to determine the suitability of any investment.
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