Why This Trader Likes Gilead Better Than Biogen

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Christian Tharp was recently a guest on #PreMarket Prep, a daily trading idea radio show hosted by Joel Elconin and Dennis Dick.

CMT Christian Tharp looked into several biotech stocks. Among them, he went over Gilead Sciences, Inc. GILD and Biogen Inc BIIB.

Tharp said he likes Gilead better than Biogen (after declaring he is not a big fan of the latter): “when I pan out again, I kind of look at it [Gilead] and say ‘I wish you were one of the ones leading the way.’ However, that being said, really… hold Gilead and hold Biogen side by side, and compare that to the iShares NASDAQ Biotechnology Index (…) Notice how I like Gilead better because it has taken part… when investors and traders want to get into biotech, this seems one of the names that seems to be of interest, which is something we would like to see.”

On the opposite, Biogen “seems to be stalling over the last week or two.” Tharp said he certainly likes Gilead better.

“You can kind of see we are stalling in this $105 area in the past two or three months. $95-is seems to be what is holding us up.”

He added, “I think if we can get above $105, we’d get ourselves a run to $110. And breaking above $110 would be a great sign for Gilead.”

Shares of Gilead and Biogen were down about 2 percent on Friday.

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Posted In: BiotechExclusivesTrading IdeasGeneral#BestOfBiotechChristian Tharp
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