BioMarin Pharmaceutical (BMRN) fell 16.81% and closed at $108.69 last week. That’s below the 20-day, 50-day, and 100-day moving averages. The 14-day RSI was 28, or oversold territory.
XBI’s moving average took a hit in the week ended September 25, and most of its stocks were trading below all the moving averages. Compared to the previous week, the fall was massive.
Last week was an unforgettable week for biotech stocks. It began on a bad note after Hillary Clinton commented on price controls for the specialty drug market, which created panic and triggered a sell-off.
The top five small-cap stocks from the pharmaceutical subgroup of the iShares Nasdaq Biotechnology ETF (IBB) outperformed the IBB and the broader market SPDR S&P 500 ETF.
The top five mid-cap stocks of the pharmaceutical subgroup of the iShares Nasdaq Biotechnology ETF (IBB) gave an average return of 0.35% for the week ended September 18.
ENDO International (ENDP) rose 9.52%. The stock went up on high trading volumes during September 16-18.
The top five stocks of IBB’s biotechnology subgroup are Shire, Mylan, Endo International, Grifols, and Alkermes, which returned -2.02%, 1.93%, 9.52%, 3.70%, and 1.62%, respectively.
Clovis Oncology (CLVS) gained 9.88%, as investors were positive about the company’s presentation at the Morgan Stanley global healthcare conference.
Illumina’s Market Expansion Strategy includes targeting the United States, Europe, and China for population sequencing projects.
Illumina’s key products are based on the company’s NGS (next-generation sequencing) technologies.
Illumina is currently targeting opportunities worth $5 billion in the life sciences market.
Illumina has been actively involved in penetrating the prenatal market by increasing NIPT (noninvasive prenatal testing) services.
Illumina is working in the reproductive health market to enhance the efficacy of in vitro fertilization tools.
A liquid biopsy helps detect future possibility of cancer in otherwise healthy people. DNA testing for cancer will exceed $10 billion by 2020.
Illumina is targeting opportunities worth $12 billion in the oncology market, which can be broken down into research, translational, and clinical segments.
Illumina focuses on the $20 billion genome sequencing market, a market with great potential across its major branches.
Illumina is a global leader in genome sequencing solutions. Genome sequencing is used to solve several complex problems in research and daily life.
An overview of Illumina, a leading biotechnology company, which holds a market capitalization of $27.5 billion.
The Pharmaceuticals segment reported some major developments in 2Q15, including submitting a BLA for daratumumab for myeloma and getting approval for Inveza Trinza, a new drug for schizophrenia.
Johnson & Johnson’s net profit margin improved to 25.4% for 2Q15 compared to 22.2% for 2Q14 due to the divestiture of some low profitability products and improved sales of high profitability products.