Biopharma Stocks Bounce 3.4% Over Five Days

Traders “whipsawed” biotech stocks but still the IBB managed to hold onto short-term gains of 10 points over the intermediate support of $280. The more volatile equal balanced XBI did even better up 7.95% over five days. Many smaller cap speculative plays had crazy moves on good volume showing strong investor appetite for biotech stocks: Aerie Pharmaceuticals (AERI) soared 44.87% yesterday on positive Phase 3 trials for a glaucoma drug; Dermatology developer Vitae Pharmaceuticals (VTAE) rocketed 197% this week on a buyout from Allergan (AGN) and AcelRx (ACRX) rose 9.78% yesterday on positive Phase 3 results for its pain relief drug.

Rayno Biopharma Portfolio stocks had a good week thus far:

Large cap laggards Bristol Myers (BMY) and Gilead Sciences (GILD) showed good support near their technical bottoms with good 2%+ yields. IBB is our core pick.

Our latest pick Amgen (AMGN) was up 1.47% also has a 2+% yield.

Bluebird bio (BLUE) skyrocketed 11% to $70 on a Goldman Sachs recommendation. BLUE recently announced news on its LentiGlobin gene therapy drug for thalassemia. Bluebird bio was put on the Rayno Portfolio at a price of $43.75 on 2/3/16.