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Top-Rated Biotech Unravels Base-Building Effort

Investor's Business Daily Video
Updated

After reporting mixed quarterly results, top-rated biotech Celgene looks to have unraveled its base-building effort. The stock dropped 5% on the stock market today, falling to a four-month low. Celgene's earnings grew 27% and beat estimates by a penny. Sales increased 20%, but missed views. Group peer Biogen has yet to retake its 50-day line after it gapped below that area when Q1 results missed estimates last Friday. Will fellow biotech Gilead face the same fate when it reports its results?