The Biotech Industry has continued to provide investors with impressive gains in 2013. The iShares NASDAQ Biotechnology ETF (NASDAQ: IBB) and the SPDR S&P Biotech ETF (NYSEARCA: XBI) have posted gains of approximately 50.0 percent and 47.0 percent, respectively, year-to-date. One factor in the Biotech’s Industry’s recent boom has been the rise in research and development (R&D) spending. According to the 2013 BDO Biotech Briefing, companies listed on the NASDAQ Biotechnology Index on average spent $54.0 million on R&D in 2012, an increase of 8 percent when compared to 2011. "Unlike big pharma companies, who are developing new products while maintaining a consistent level of R&D spending, biotechs continue to demonstrate a desire to increase their R&D investment," said Ryan Starkes, partner and leader of the Life Sciences Practice at BDO. "The good news for the sector is that they are attracting significant capital and are clearly putting those dollars towards their intended use."
Ariad Pharmaceuticals, Inc. (NASDAQ: ARIA) shares traded in the range of $21.89 to $22.54 Tuesday before settling to close at $22.52, an increase of 3.07 percent. The stock appears to have some support at the $21.53, $21.15 and $20.41. Shares of Ariad Pharmaceuticals have gained approximately 17.0 percent in 2013.
More information on Ariad Pharmaceuticals and access to the free equity report can be found at: www.WallStreetFundamentals.com/ARIA
Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) shares traded in the range of $6.26 to $6.39 Tuesday before settling to close at $6.34, an increase of 0.32 percent. The stock appears to be facing some resistance at the $6.35, $6.58 and $6.75 levels. Shares of Arena Pharmaceuticals have fallen approximately 30.0 percent in 2013.
More information on Arena Pharmaceuticals and access to the free equity report can be found at: www.WallStreetFundamentals.com/ARNA
Exelixis, Inc. (NASDAQ: EXEL) shares traded in the range of $5.46 to $5.64 Tuesday before settling to close at $5.59, an increase of 1.73 percent. The stock appears to have some support at the $5.50, $5.27 and $5.16 levels. Shares of Exelixis have gained approximately 17.0 percent in 2013.
More information on Exelixis and access to the free equity report can be found at: www.WallStreetFundamentals.com/EXEL
Orexigen Therapeutics, Inc. (NASDAQ: OREX) shares traded in the range of $6.88 to $7.09 Tuesday before settling to close at $6.93, a decrease of 0.72 percent. The stock appears to be facing some resistance at the $7.24 and $7.38 levels with some support at $6.87. Shares of Orexigen Therapeutics have gained approximately 32.0 percent in 2013.
More information on Orexigen Therapeutics and access to the free equity report can be found at: www.WallStreetFundamentals.com/OREX
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