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Baxalta in the XBI Top Ten Large Caps

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Top ten large-cap stocks outperform

Going by the market cap, the top ten large-cap stocks of the SPDR S&P Biotech ETF (XBI) outperformed it and the SPDR S&P 500 ETF (SPY) for the week ending October 16, 2015. The top ten large-cap stocks of the SPDR S&P Biotech ETF gave a return of 2.2%, the ETF itself returned 2% while the SPDR S&P 500 ETF returned 0.95% for the same period. The combined weight of the top ten large-cap stocks stood at ~11% of the SPDR S&P Biotech ETF’s portfolio. The top ten large-cap stocks include stocks like AbbVie (ABBV), Amgen (AMGN), and Gilead Sciences (GILD). These three stocks gave a return of 1.6%, 2%, and 2.1%, respectively.

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Baxalta leads the way

Baxalta (BXLT) rose by 6.2% for the week ending October 16, 2015. The stock rose as it received the Health Canada Approval for OBIZUR. As per the press release, Baxalta’s “OBIZUR is the first recombinant porcine sequence FVIII treatment available for patients with acquired hemophilia A, specifically designed to enable physicians to monitor treatment response by measuring FVIII activity levels in addition to clinical assessments.”

Baxalta closed at $32.96 and was trading above the 20-day moving average but below the 50-day moving average. The 14-day RSI (Relative Strength Index) stood at 50, indicating that the stock is neither overbought nor oversold.

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