Biotech stocks are up on average 0.8% today versus the NASDAQ
which is fractionally down and struggling to reach positive
territory. Year-to-date the biotech stocks (SPSIBI) have
experienced a near 50% increase, better than the NASDAQ's 30.45%
Among the major biotech stocks seeing the best gains are XOMA
), up near 13% and near 52 week highs on heavy volume of 3.3
million shares versus a 30 day 1.35 million average daily volume.
The Motley Fool said Friday that XOMA could be "in for a big
post-Thanksgiving move today based on news that the biotech-focused
hedge fund Baker Brothers has been snapping up the company's shares
as of late."
The XOMA comments appear in an article entitled "Keep an Eye on
Ariad Pharmaceuticals, AstraZeneca, and XOMA Today".
Also, Acadia Pharmaceutical (
) is up 6.5% today. The company is expected to be represented
tomorrow at The Piper Jaffray 25th Annual Healthcare Conference and
next week at The Oppenheimer 24th Annual Healthcare Conference on
Tuesday, December 10, 2013.
DYAX Corp (
) is up more than 3% and its highest levels since 2004 as the
company is expected to participate today and tomorrow in the
Deutsche Bank BioFEST Conference.
Merrimack Pharmaceuticals (
) is more than 6% as the company announced on Friday positive
trends from two phase II studies evaluating MM-121 for the
treatment of breast cancer.
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.