Alkermes and Incyte Outperform in Large-Cap Space
XBI Gains 6.58%, Moving Averages on the Rise
Top ten large-cap stocks gain 5.98%
Going by market-cap, the top ten stocks within the SPDR S&P Biotechnology ETF (XBI) have a weight of 10.08%. The average return of these stocks was 5.98% for the week ended September 11, 2015.
The above graph reflects the performance of the top ten large-cap stocks by market cap within XBI.
Alkermes and Incyte outperform
Alkermes (ALKS) gained 12.78% for the week ended September 11. The stock moved up from the oversold position and closed at $70.95. According to the press release, ALKS would be presenting at the Morgan Stanley Global Healthcare Conference in New York City on September 17, 2015.
Incyte (INCY) rose 12.87% that same week. Incyte was slated to present at the Bank of American Merrill Lynch Global Healthcare Conference and the Morgan Stanley Global Healthcare Conference on September 17. INCY closed at $131.01. The stock is trading above the 20-day, 50-day, and 100-day moving averages.
Gilead Sciences (GILD) rose 7.58% in the week ended September 11. The press release announced the pricing of senior unsecured notes in an aggregate principal amount of $10 billion. The senior notes are rated A- by Standard & Poor’s and A3 by Moody’s. GILD has a weight of 0.94% in XBI. The stock closed at $109.63.
Alexion Pharmaceuticals (ALXN) fell 1.91% for the week ended September 11. Investors weren’t excited by the announcement of “data from the pivotal Phase 3 ARISE study evaluating the safety and efficacy of Kanuma™ (sebelipase alfa) in children and adults with lysosomal acid lipase deficiency (LAL-D).” ALXN has a weight of 1.07% in XBI.
Browse this series on Market Realist: