Yahoo Finance Incyte and Neurocrine Trade above 100-Day Moving Averages
Biotech Market Update for Week Ended September 4
Moving averages of IBB
The iShares Nasdaq Biotechnology ETF (IBB) has 145 stocks in its portfolio with exposures to various subgroups like biotechnology, pharmaceuticals, healthcare products, and so on. For the week ended September 4, 2015, 29.66% of the stocks were trading above their 20-day moving averages, 18.62% of the stocks were trading above their 50-day moving averages, and 25.52% of the stocks were trading above their 100-day moving averages.
In terms of the absolute number of stocks, 43 stocks were trading above their 20-day moving averages, 27 stocks were trading above their 50-day moving averages, and 37 stocks were trading above their 100-day moving averages.
The above graph reflects the percentage of stocks that are trading above.
Incyte and Neurocrine trade above 100-day moving averages
Going by the weights, all the top ten stocks, including Gilead Sciences (GILD), Amgen (AMGN), and Vertex Pharmaceuticals (VRTX), are trading below 20-day, 50-day, and 100-day moving averages. However, few stocks are trading above the 100-day moving averages.
On September 4, 2015, Incyte (INCY) closed trading at $115.88 and continued to trade above 20-day, 50-day, and 100-day moving averages. The stock outperformed the IBB for the week ended September 4.
According to the press release, INCY announced a global license and collaboration agreement with Jiangsu Hengrui and will have the exclusive development and commercialization rights to SHR 1210 worldwide except for mainland China, Hong Kong, Macau, and Taiwan. INCY will pay $25 million up front.
Neurocrine Biosciences (NBIX) rose 4.03% for the week ended September 4, 2015. The stock closed at $48.55 and was trading above its 20-day, 50-day, and 100-day moving averages. NBIX announced that it would be presenting at the Baird 2015 Healthcare Conference in New York City.
Endo International (ENDP) has announced that Xiaflex has been listed in the Japanese National Health Insurance (NHI) drug price standard. ENDP has a collaboration with Asahi Kasei Pharma and was expected to launch the product in Japan on September 6, 2015.
ENDP expects $40 million upon achieving the milestone. ENDP fell 7.24% since there was news that Morgan Stanley downgraded the stock. The stock closed at $73 on September 4, 2015.
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