Biotechs are getting hit hard on the stock market today. The group has been the No. 1 group out of IBD’s 197 industries, but it’s on track for its worst weekly decline in about a year. Some top-rated biotech stocks taking a beating include Celgene (CELG), Biogen (BIIB) and Regeneron (REGN). Watch this video for IBD chart analysis of each stock. Follow Alissa Williams on Twitter: @IBD_AWilliams.
The Medical-Biomed/Biotech group for eight straight weeks has been ranked No. 1 out of the 197 industry groups that IBD tracks. That means the group is bolstered by some of the best-performing stocks in the market. In this video, we analyze the charts of the top-rated “ABC’s” of the group: Alexion Pharmaceuticals (ALXN), Biogen Idec (BIIB) and Celgene (CELG). Biogen soared Friday on promising data for treating Alzheimer’s disease. Follow Alissa
Big-cap biotech Alexion Pharmaceuticals (ALXN) beat Q4 estimates but reported lower than expected guidance Thursday as it announced a change of leadership. Vertex Pharmaceuticals (VRTX) and Celgene (CELG) also moved on new earnings reports. Alexion’s sales rose 36% over the year-earlier quarter to $599 million, more than $8 million ahead of analysts’ consensus. Profit excluding one-time items gained 49% to $1.30 a share, beating estimates by a