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ISIS Leads the Mid-Cap Space, Stock Rises by 12.3%

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Mid-cap stocks drive up with positive returns

The mid-cap stocks of the iShares Nasdaq Biotechnology ETF (IBB) outperformed the large-caps and gained 0.7% on November 9, 2015. IBB has 30 mid-cap stocks in its portfolio with a market cap between $2 billion and $10 billion. Out of 30 stocks, 13 ended up in red while 17 gave positive returns.  The mid-cap stocks account for 18.9% of the IBB ETF’s portfolio. The mid-cap space includes stocks like Acadia Pharmaceuticals (ACAD), Kite Pharma (KITE), and Horizon Pharma (HZNP). The three stocks gave returns of -4.2%, 5.1%, and 6.2%, respectively.

The graph above reflects the performance of the IBB ETF’s mid-caps compared to IBB and the SPDR S&P 500 ETF (SPY) on a day-to-day basis. Since November 2, 2015, the IBB ETF’s mid-caps gave returns of 11.2%, whereas IBB gave a return of 1.7% and SPY gave a return of 0.1%.

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ISIS reports 3Q15, stock gains 12.3%

ISIS Pharmaceuticals (ISIS) rose by 12.3% as it announced 3Q15 earnings. ISIS reported revenue of $49.1 million as compared to $44.1 million in 3Q14. The company reported a net loss of $35.8 million as compared to a net loss of $26.7 million in 3Q14. However, investors were excited about the positive results from a Phase 2 study of ISIS-APO(a)Rx.

ISIS closed at $62.8 and was trading above the 20-, 50-, and 100-day moving averages. The company’s RSI (relative strength index) was at 68 and appears very close to being moved into an overbought situation. The book value of ISIS is at $2.05. With its current market price, the price-to-book value ratio (or PBV) was at 30.68x. ISIS has a weight of 0.85% in IBB’s portfolio.

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