Biotech Breakouts and Takeover Targets

From Bloodbath to Bio-Boom

by Jason Simpkins
Outsider Club

Biotechs have suffered something of a bloodbath recently.

On the whole, biotech stocks are down 25% so far this year. That’s how much the iShares NASDAQ Biotech Index (NASDAQ: IBB) is down, anyway. The SPDR S&P Biotech ETF (NYSE: XBI), is faring even worse, down about 30%.

Year-to-date, Biogen (NASDAQ: BIIB) is down 14%, Celgene Corp. (NASDAQ: CELG) is down 16%, Gilead Sciences (NASDAQ: GILD) is down 18.5%, and BioMarin Pharm (NASDAQ: BMRN) is down roughly 24%.

This might be concerning… if biotech stocks had not just completed the greatest bull run in the history of the industry.

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