Biotech Is a Source of Buys
Biotech stocks ran against the downward tide in Thursday's selloff, with the SPDR S&P Biotech ETF (XBI) closing higher, even though the broad averages fell more than 2%. That fund is now trading at an all-time high, offering market players a host of buying opportunities that don't exist in most growth sectors these days.
Fund component and leader Alexion Pharmaceuticals (ALXN) pulled back after a strong breakout and is setting up a low-risk entry in the low- to mid-$90s. Its primary meal ticket is Soliris, used for the treatment of paroxysmal nocturnal hemoglobinuria (PNH), a rare blood disorder. It's now seeking to expand the drugs' applications through multiple clinical trials....379 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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