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Amgen Rises by 2% as XBI’s Large-Cap Stocks Rally

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XBI’s large-cap stocks rally

The large-cap (large capitalization) stocks of the SPDR S&P Biotech ETF (XBI) rose by 1.5% on a collective effort. As of November 17, 2015, XBI has 12 large-cap stocks with a market capitalization of more than $10 billion.

Large-cap stocks account for ~13.1% of XBI’s portfolio. The breadth among XBI’s large-cap stocks remained positive, with 11 stocks giving positive returns, while only one stock ended up in the red.

XBI’s large-cap stocks include Alkermes (ALKS), BioMarin Pharmaceuticals (BMRN), and Vertex Pharmaceuticals (VRTX), which gave returns of 1.5%, 2.7%, and 2.4%, respectively.

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The above graph reflects the collective performance of XBI’s large-cap stocks in comparison with XBI and the SPDR S&P 500 ETF (SPY). Since the beginning of November 2015, XBI’s large-cap stocks have returned -1.5%, XBI has returned 3.3%, and SPY has returned -1.2%. Thus, XBI outperformed both its large-cap stocks and SPY.

Amgen to present Phase 3 IMLYGIC data

Amgen (AMGN) gained 2% on November 17, 2015. As per its press release, AMGN announced “that the Company will present eight IMLYGICTM (talimogene laherparepvec) abstracts, including data from the Phase 3 trial and new data from its Phase 1b combination trial with Merck’s anti-PD-1 therapy, at the 12th International Congress of the Society for Melanoma Research (SMR), to be held on Nov. 18-21 in San Francisco.”

AMGN closed at $157.60 and was trading above its 50- and 100-day moving averages. The stock also witnessed a rise in trading volumes, with ~36 million shares being traded compared to its five-day average trading volume of 3.1 million shares per day.

AMGN’s trailing-12-month price-to-earnings ratio stood at 18.80x. It has a book value of $37.05 per share. With its current price, AMGN is trading at a price-to-book value ratio (or PBV) of 4.25x. AMGN has a weight of ~1.2% in XBI’s portfolio.

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