Investing

Biotech stocks win October, rallying 8%

0


A Biogen Idec lab technician

Suzanne Kreiter | The Boston Globe | Getty Images

Biotechnology stocks are emerging as the standout performers in October.

The Biotech ETF (IBB) is up 8% in October, while the S&P 500 is up about 2% in the same month. The IBB is on pace for its best month since January, when it gained 13.75%.

Leading the way are large-cap biotechnology companies Amgen and Celgene, which are up about 8% in October, and Biogen, which is up nearly 30% in October.

Last week, Biogen’s stock soared after the drugmaker announced it was seeking regulatory approval for an Alzheimer’s drug, aducanumab. The announcement came just months after Biogen discontinued clinical studies of the same…



Source cnbc.com

New bond lets investors help prevent California wildfires and turn a profit

Previous article

Mastercard (MA) earnings Q3 2019 beat estimates

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Investing