Growth stocks are taking a hit now that the market is in a correction. Biotechs saw a recent sell-off over concerns that the sector was overheating, but biotechs and medical stocks are among leading big-cap stocks. IBD’s Big Cap Screen of the Day lists large stocks with strong earnings and price performance. Actavis (ACT), Alexion Pharmaceuticals (ALXN), Biogen (BIIB), Allergan (AGN) and Novo Nordisk (NVO) are featured on the screen. “If you look
Biogen Idec (BIIB), on the IBD 50 list of top-rated growth stocks, is working on a new oral drug for treating multiple sclerosis that has the potential for driving the biotech firm’s next generation of MS therapies, according to a research note from RBC Capital Markets. Little is known about the oral drug, which is in phase one trials. But in RBC’s note published on Sunday, analyst Michael Yee and his associates wrote that it could be a
Nomura analyst Ian Somaiya raised his price targets on Pharmacyclics (PCYC) and Gilead Sciences (GILD) and lowered it on Biogen Idec (BIIB) after a survey of their competing drugs for chronic lymphocytic leukeumia. Somaiya wrote that his survey of 30 doctors treating more than 1,600 CLL patients “highlighted rapid transition of the CLL market to newer oral drugs, in particular PCYC’s Imbruvica,” which was launched by Pharmacyclics and Johnson &