The Biotech industry has continued to outpace the broader markets in 2013. The iShares NASDAQ Biotechnology Index ETF (NASDAQ: IBB) and the SPDR S&P Biotech ETF (NYSEARCA: XBI) year-to-date have posted gains of approximately 57.0 percent and 40.0 percent, respectively, compared to the S&P 500 Index’s gain of roughly 25.0 percent. The success the Biotech Industry has experienced in recent years has caused a surge in IPO’s this year. According to data from Credit Suisse, 38 have gone public through mid-November, the most since 2000.
Oncomed Pharmaceuticals Inc. (NASDAQ: OMED) shares traded in the range of $23.25 to $24.47 Thursday before settling to close at $24.11, an increase of 2.60 percent. The stock appears to be facing some resistance at the $27.22 and $30.15 levels with some support at $23.33. Shares of Oncomed Pharmaceuticals have fallen approximately 11.0 percent since its IPO.
More information on Oncomed Pharmaceuticals and access to the free equity report can be found at:
www.WallStreetFundamentals.com/OMED
Portola Pharmaceuticals Inc. (NASDAQ: PTLA) shares traded in the range of $23.64 to $24.05 Thursday before settling to close at $23.73, a decrease of 0.50 percent. The stock appears to be facing some resistance at the $24.11 and $24.95 levels with some support at $23.31. Shares of Portola Pharmaceuticals have gained approximately 56.0 percent since it IPO.
More information on Portola Pharmaceuticals and access to the free equity report can be found at:
www.WallStreetFundamentals.com/PTLA
Tetraphase Pharmaceuticals Inc. (NASDAQ: TTPH) shares traded in the range of $11.74 to $12.10 Thursday before settling to close at $12.04, an increase of 0.42 percent. The stock appears to be facing some resistance at $13.28 with some support at the $12.01 and $11.67 levels. Shares of Tetraphase Pharmaceuticals have gained approximately 70.0 percent since its IPO.
More information on Tetraphase Pharmaceuticals and access to the free equity report can be found at:
www.WallStreetFundamentals.com/TTPH
Intrexon Corp. (NYSE: XON) shares traded in the range of $19.00 to $19.75 Thursday before settling to close at $19.63, an increase of 2.19 percent. The stock appears to be facing some resistance at the $20.76 and $23.00 levels with some support at $17.65. Shares of Intrexon have fallen approximately 20.0 percent since it IPO.
More information on Intrexon and access to the free equity report can be found at:
www.WallStreetFundamentals.com/XON
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