Buisness Insider

Biotech Stocks Are Getting Smashed (IBB)

Screen%20shot%202014 04 10%20at%203.13.28%20pm

The stock market is selling off today, and once again it's being led down by the momentum stocks.

One red-hot industry that continues to get smoked is biotechnology.

The iShares Biotechnology Index (IBB) is down a whopping 6.1%.

Among the big losers are Alexion Pharmaceuticals (-7.4%), Gilead Sciences (-6.8%), and Vertex Pharmaceuticals (-6.1%).

"I frankly just don't know why biotech is off so much today," said Mark Schoenebaum, a biotech and pharmaceuticals analyst for ISI Group.

The IBB index is now down 19% from its February high.

The industry has seen huge numbers of IPOs in the last year, which has some folks wondering if this is just the bursting of a bubble.

Meanwhile, the industry analysts have generally remained bullish on the industry based on the long-term profit potential of drugs in the developmental and regulatory pipeline.

"Large cap biotech is now trading at a 2015 and 2016 PE discount to the S&P500!" exclaimed Credit Suisse's Ravi Mehrotra and Koon Ching in a recent note to clients.

SEE ALSO: Anatomy Of A Biotech Bubble

Join the conversation about this story »

Mf


Rc
Rc
Rc

A2A2t
Feeds.feedburner
read full article
   

Page 10 of 363

Find Joysco Studio On Facebook


28 February 2012
Be Inspired: The Life of Heavy D (Documentary) FT. QUEEN LATIFAH AND MORE NARRATED BY...
10 July 2014
Pixel[This is an advertorial. Maclife gets a portion of each unit sold.]The iPhone has become a capable...
10 July 2014
Factory Outlet Ebay Store 620pxIf you're in the market for a deal on an Apple Certified Refurbished unlocked iPhone 5 complete with a...
10 July 2014
FindmyiphoneApple has been attempting to distance itself from Google for some time now, and the latest service...
10 July 2014
IphoneAs hard as may be to believe in these days of rampant iPhone thefts, sometimes lost iPhones make their...
10 July 2014
Mal93.rev Dragon.dragon02Thanks to Siri, we’re all getting familiar with voice recognition. Where the technology really comes...
07 July 2014
Airport Security Checkpoint 620pxOur fellow Americans: Welcome back from a three-day weekend of barbecues and fireworks! July is...
07 July 2014
Other 1Whenever you plug an iPhone or iPad into a Mac and check its data storage in iTunes, a chunk of space is...
07 July 2014
We've heard a lot about how strong the rumored sapphire crystal screens for the iPhone 6 supposedly are,...
29 May 2014
ClassicQuietly, and almost without notice, a chapter in Apple's history may have started to close today. As...