Market Overview

Biotech Performance 'Particularly Impressive,' Says JP Morgan


In a biotech industry overview on Tuesday, analysts at JP Morgan noted that biotech should outperform the NASDAQ, S&P 500 and Russell 2000.

The NYSE ARCA BIOTECH INDEX (NYSE: BTK) and NASDAQ Biotechnology (NASDAQ: NBI) have gained 9.1 and 7.4 percent, respectively, this year.

The analysts said that the recent rally has been “liquidity driven,” which is the reason that BTK outperformed NBI.

Specific company performance, however, has been mixed with the performance of key pharmaceuticals. JP Morgan analysts noted that Gilead Sciences, Inc. (NASDAQ: GILD) did well as Harvoni prescriptions continue to grow. Gilead is higher by nearly 10 percent this year.

AbbVie Inc (NYSE: ABBV) and Enanta Pharmaceuticals Inc (NASDAQ: ENTA) have not done as well with its Viekira Pak.

Finally, the analysts said that biotech’s outperformance was “particularly impressive” in light of sector rotation and the pending resignation of the FDA Commissioner. 

Latest Ratings for GILD

Nov 2020Morgan StanleyReinstatesEqual-Weight
Oct 2020BMO CapitalMaintainsMarket Perform
Oct 2020Cantor FitzgeraldReiteratesOverweight

View More Analyst Ratings for GILD
View the Latest Analyst Ratings


Related Articles (GILD)

View Comments and Join the Discussion!

Posted-In: JP MorganAnalyst Color Analyst Ratings

Latest Ratings

ZMRBC CapitalMaintains550.0
ZMJP MorganMaintains450.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at