The biotech industry has continued to outpace the broader markets in 2013. The iShares NASDAQ Biotechnology Index ETF (NASDAQ: IBB) has gained approximately 27.0 percent year-to-date, compared to gains of 14.6 percent and 13.1 percent for the Dow Jones Industrial Average and S&P 500 Index. A favorable regulatory environment has been a major factor in the Industry?s success in 2012 as the U.S. Food and Drug Administration approved 39 new drugs, the highest since 1996. "Genetic information is providing a big opportunity for new drug development," said Fidelity fund manager Rajiv Kaul. "There are exciting new opportunities, but you also need to be careful because most drugs fail."
Chelsea Therapeutics International Ltd. (NASDAQ: CHTP) shares traded in the range of $2.15 to $2.31 Thursday before settling to close at $2.25, a decrease of 1.75 percent. The stock appears to be facing resistance at $2.58 with some support at $2.17. Shares of Chelsea Therapeutics have gained approximately 196 percent in 2013.
More information on Chelsea Therapeutics and access to the free equity report can be found at:
Clovis Oncology Inc. (NASDAQ: CLVS) shares traded in the range of $65.55 to $68.84 Thursday before settling to close at $68.08, an increase of 3.83 percent. The stock appears to have some support at the $63.56 and $59.33 levels. Shares of Clovis Oncology have soared approximately 325 percent in 2013.
More information on Cummins and access to the free equity report can be found at:
Hyperion Therapeutics Inc. (NASDAQ: HPTX) shares traded in the range of $22.21 to $22.93 Thursday before settling to close at $22.50 a share, an increase of 1.08 percent. The stock appears to be some facing resistance at the $22.98 and $23.71 levels with some support at $21.91. Shares of Hyperion Therapeutics have nearly doubled in 2013.
More information on Hyperion Therapeutics and access to the free equity report can be found at:
Seattle Genetics, Inc. (NASDAQ: SGEN) shares traded in the range of $31.10 to $31.76 Thursday before settling to close at $31.51, an increase of 2.11 percent. The stock appears to have facing some resistance at the $32.75 and $33.97 levels with some support at $31.20. Shares of Seattle Genetics have gained approximately 36.0 percent in 2013.
More information on Seattle Genetics and access to the free equity report can be found at:
Wall Street Fundamentals offers our members a full range of investor services including in-depth equity reports on your favorite companies and timely market updates featuring the hottest stocks trending in the marketplace.
Activate your always free membership by signing up at www.WallStreetFundamentals.com today.
Disclaimer: Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investor's reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. Wall Street Fundamentals has no financial relationship with any company whose stock is mentioned in this release.
Wall Street Fundamentals