The Biotech Industry’s recent slide continued Friday as investors continued to shift their portfolios towards safer assets as we enter earnings season. On Friday, the iShares NASDAQ Biotechnology Index ETF (NASDAQ: IBB) declined 2.90 percent, down 15.44 percent in the past month, while the SPDR S&P Biotech ETF (NYSEARCA: XBI) fell 4.0 percent, down 20.95 over the same period. "There’s still a continual rotation out of the high-flying momentum stocks of 2013 into more value-driven opportunities," said Stifel Nicolaus portfolio manager Chad Morganlander. "This will continue in the coming weeks as investors look for consistency in earnings. You have concerns about high valuations and flat revenue growth, which is a perfect cocktail for a sector rotation out of growth and into value."
Avanir Pharmaceuticals Inc. (NASDAQ: AVNR) shares traded in the range of $3.28 to $3.69 Friday before settling to close at $3.29, a decrease of 9.37 percent. The stock appears to be facing some resistance at the $3.36 and $3.45 levels with some support at $3.13 and $2.92. Shares of Avanir Pharmaceuticals have fallen approximately 17.0 percent in the past month.
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Celldex Therapeutics, Inc. (NASDAQ: CLDX) shares traded in the range of $13.93 to $15.54 Friday before settling to close at $14.02, a decrease of 10.24 percent. The stock appears to be facing some resistance at the $15.54, $21.90 and $23.87 levels. Shares of Celldex Therapeutics have fallen approximately 41.0 percent in the past month.
More information on Celldex Therapeutics and access to the free equity report can be found at:
Retrophin Inc. (NASDAQ: RTRX) shares traded in the range of $15.32 to $18.08 Friday before settling to close at $15.36, a decrease of 15.84 percent. The stock appears to be facing some resistance at the $17.02 and $18.08 levels with some support at $14.64 and $13.50. Shares of Retrophin have fallen approximately 13.0 percent in the past month.
More information on Retrophin and access to the free equity report can be found at:
TG Therapeutics, Inc. (NASDAQ: TGTX) shares traded in the range of $5.38 to $6.28 Friday before settling to close at $5.50, a decrease of 10.42 percent. The stock appears to be facing some resistance at the $5.50 and $6.12 levels with some support at $4.74 and $4.53. Shares of TG Therapeutics have fallen approximately 27.0 percent in the past month.
More information on TG Therapeutics and access to the free equity report can be found at:
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