In the pharmaceutical subgroup, large-cap stocks outperformed mid-caps and small-caps
Considering the top six stocks in each segment, large-cap stocks comprise 12.37%, mid-cap stocks comprise 3.68%, and small-cap stocks make up 1.44% of the iShares NASDAQ Biotechnology ETF’s (IBB) pharmaceutical subgroup portfolio.
The above graph reflects the performance of large-, mid-, and small-cap companies in the week ending August 7, 2015. Large-caps outperformed both mid- and small-cap companies. Large-cap companies posted returns of -3.08%, while mid-cap and small-cap companies posted respective returns of -8.24% and -5.34%.
Shire pulls IBB down and Mylan outperforms
Within the large-cap space of the pharmaceutical sector, Shire (SHPG) fell 6.36% during the week ending August 7, 2015. The stock fell after its bid to take over Baxalta (BXLT) failed. BXLT rejected SHPG’s offer, sighting an unattractive price offering.
SHPG comprises 1.79% of IBB.
In contrast, Mylan (MYL) rose 0.64%. MYL announced its 2Q15 results on August 6, 2015, reporting total revenues of $2.37 billion as opposed to $1.83 billion in 2Q14.
Within the mid-cap space of the pharmaceutical sector, Acadia Pharmaceuticals (ACAD) fell 19.81% after it reported a net loss of $39.4 million, down from -$21.5 million in 2Q14. Another stock dragging down the mid-cap stocks was Akorn (AKRX), which fell 6.59%, following the broader market trend.