Invesco Biotechnology & Genome ETF (ARCA: PBE)

Invesco Biotechnology & Genome ETF (ARCA:PBE), Quote.Headers.trade-ideas

Invesco Dynamic Biotech & Genome ETF

PowerShares Dynamic Biotech &Genome

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The Fund generally will invest at least 90% of its total assets in securities that comprise the Underlying Index. The Underlying Index is composed of common stocks of U.S. biotechnology and genome companies. These companies are engaged principally in the research, development, manufacture and marketing and distribution of various biotechnological products, services and processes, and are companies that benefit significantly from scientific and technological advances in biotechnology and genetic engineering and research.

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Illumina Inc - Common

Incyte Corp.

Biomarin Pharmaceutical Inc.

Vertex Pharmaceuticals Inc

Amgen Inc.

Regeneron Pharmaceuticals, Inc.

Neurocrine Biosciences Inc

Ionis Pharmaceuticals Inc

Halozyme Therapeutics Inc

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	U.S. Attorney General Merrick Garland said that the Justice Department would file an appeal with the U.S. Supreme Court seeking to block the entirety of Kacsmaryk&#39;s order suspending the FDA approval of the abortion pill mifepristone. 


Mifepristone Abortion Pill Access in Limbo: Justice Department May Ask Supreme Court&#39;s Intervention

Biotech

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	A U.S. federal appeals court has temporarily blocked a decision by a Texas judge to halt the FDA&#39;s approval of a widely used abortion drug.


Women&#39;s Reproductive Rights: US Court Preserves Access To Abortion Pill For Now, But With Tighter Rules

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	New York and California are stockpiling an alternative abortion medication in case a Texas judge&#39;s order suspending the FDA approval of the primary drug, mifepristone, goes into effect later this week.


New York and California Prepare For Potential Mifepristone Ban In Texas With Stockpiling Of Alternative Abortion Medications

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<ul>
<li>U.S. Attorney General Merrick Garland said that the Justice Department would file an appeal with the U.S. Supreme Court seeking to block the entirety of Kacsmaryk&#39;s order suspending the FDA approval of the abortion pill mifepristone.&nbsp;</li>
<li>Garland said the administration &quot;will be seeking emergency relief from the Supreme Court to defend the FDA&#39;s scientific judgment and protect Americans&#39; access to safe and effective reproductive care.&quot;</li>
<li>The New Orleans-based 5th U.S. Circuit Court of Appeals put on hold part of last Friday&#39;s order by U.S. District Judge Matthew Kacsmaryk in Amarillo, Texas, while he hears a lawsuit by anti-abortion groups seeking to ban it.</li>
<li>The Planned Parenthood Federation of America condemned the 5th Circuit&#39;s decision as a rejection of science and law.</li>
<li>&quot;The federal judiciary has &mdash; for the second time this week &mdash; rejected science and the law, and this time, the court decided they had the authority to re-write mifepristone&#39;s label,&quot; CNBC&nbsp;<a class="editor-rtfLink" href="https://www.cnbc.com/2023/04/13/abortion-pill-mifepristone-court-keeps-it-on-market-blocks-mail-delivery.html" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">reported</a>&nbsp;citing Alexis McGill Johnson, president of Planned Parenthood.&nbsp;</li>
<li>&quot;If allowed to stand, the consequences of this decision will be catastrophic not just for medication abortion access but the entire drug approval system,&quot; he added.</li>
<li>A U.S. federal appeals court has&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/23/04/31784287/womens-reproductive-rights-us-court-preserves-access-to-abortion-pill-for-now-but-with-tighter-ru" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">temporarily blocked</a>&nbsp;a decision by a Texas judge.&nbsp;</li>
<li>The abortion pill mifepristone will remain available in the U.S. for now but with some restrictions, including requiring in-person doctor visits to obtain the drug and limiting its use to the first seven weeks of pregnancy from the current ten, a federal appeals court ruled.</li>
</ul>

Mifepristone Abortion Pill Access in Limbo: Justice Department May Ask Supreme Court's Intervention

<ul>
<li>A U.S. federal appeals court has temporarily blocked a decision by a Texas judge to halt the FDA&#39;s approval of a widely used abortion drug.</li>
<li>The abortion pill mifepristone will remain available in the U.S. for now but with some restrictions, including requiring in-person doctor visits to obtain the drug and limiting its use to the first seven weeks of pregnancy from the current ten, a federal appeals court ruled.</li>
<li>Related Content:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/23/04/31766180/new-york-and-california-prepare-for-potential-mifepristone-ban-in-texas-with-stockpiling-of-alter" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">New York and California Prepare For Potential Mifepristone Ban In Texas With Stockpiling Of Alternative Abortion Medications</a>.</li>
<li>In his last week ruling, Texas Judge Matthew Kacsmaryk ordered pulling mifepristone from the market in seven days, saying the FDA had violated federal rules that allowed for the accelerated approval of some drugs.&nbsp;</li>
<li>The order was set to take effect on Friday.</li>
<li>The Biden administration, the anti-abortion groups, or both could also seek to appeal immediately to the U.S. Supreme Court,&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/legal/us-appeals-court-preserves-limited-approval-abortion-pill-2023-04-13/" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Reuters</a>&nbsp;reported.</li>
<li>Wednesday&#39;s ruling came from a panel of three 5th Circuit judges, two appointed by then-President Donald Trump and one by George W. Bush, both Republicans, Reuters added.</li>
<li>Judge Catharina Haynes, the Bush appointee, partly dissented, saying she would have temporarily blocked Kacsmaryk&#39;s order entirely.</li>
<li>The emergency stay is meant to remain in place until the 5th Circuit can hear the Biden administration&#39;s appeal of Kacsmaryk&#39;s order more fully.&nbsp;</li>
<li>It was first approved for the termination of pregnancy up until seven weeks gestation.</li>
<li>The 2016 changes, among other things, reduced the number of in-person visits that patients must make from three to one and allowed the pills to be prescribed to women at up to 10 weeks gestation instead of up to seven weeks.</li>
<li>Photo via Wikimedia Commons</li>
</ul>

Women's Reproductive Rights: US Court Preserves Access To Abortion Pill For Now, But With Tighter Rules

<ul>
<li>New York and California are stockpiling an alternative abortion medication in case a Texas judge&#39;s order suspending the FDA approval of the primary drug, mifepristone, goes into effect later this week.</li>
<li>The alternative option, misoprostol, is FDA-approved to treat gastric ulcers,&nbsp;<a class="editor-rtfLink" href="https://www.cnbc.com/2023/04/11/abortion-pill-ruling-new-york-california-stockpile-misoprostol.html" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">noted</a>&nbsp;CNBC. But the use of misoprostol alone to induce abortions is endorsed by the World Health Organization and is used in countries where mifepristone is unavailable.</li>
<li>Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/23/04/31752497/attorney-generals-of-over-20-states-sound-alarm-over-suspension-of-abortion-med-approval-devastat" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Attorney Generals of Over 20 States Sound Alarm Over Suspension Of Abortion Med Approval: &quot;Devastating Risks&quot; Ahead</a>.</li>
<li>It will remain on the market if U.S. District Judge Matthew Kacsmaryk&#39;s order suspending mifepristone takes effect this week Saturday.</li>
<li>More than half of abortions in the U.S. use a combination of mifepristone and misoprostol.</li>
<li>Some U.S. abortion providers are prepared to offer misoprostol as a stand-alone treatment, CNBC&nbsp;<a class="editor-rtfLink" href="https://www.cnbc.com/2023/04/11/alternative-abortion-pill-could-be-used-if-the-mifepristone-ban-is-upheld.html" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">reported</a>&nbsp;citing Jenny Ma, senior staff attorney at the Center for Reproductive Rights, a legal advocacy group representing abortion providers worldwide. Ma also said that other providers might not be ready to switch to a misoprostol-only regimen.</li>
<li>New York Gov. Kathy Hochul ordered the state health department to purchase 150,000 doses of misoprostol, a five-year pill supply. Hochul&#39;s announcement comes a day after Gov. Gavin Newsom said California has secured 2 million misoprostol pills.</li>
<li>Hochul said she is working with New York&#39;s legislature to require private insurers to cover misoprostol when prescribed off-label for abortions.</li>
<li>The Justice Department and Danco Laboratories, the distributor of mifepristone, have asked the U.S. 5th Circuit Court of Appeals to block Kacsmaryk&#39;s ruling by noon Thursday.</li>
<li>Photo via Wikimedia Commons</li>
</ul>

<ul>
<li>In a new court filing, the Democratic attorneys general for 23 U.S. states have reportedly warned that a federal judge&#39;s decision to suspend the FDA&#39;s approval of mifepristone &quot;presents devastating risks to millions of people,&quot; including those in states where abortion remains legal.</li>
<li>The attorneys general, in their filing, called on the U.S. 5th Circuit Court of Appeals to keep mifepristone on the market.</li>
<li>Last week Friday, a U.S. judge suspended the FDA&#39;s approval of mifepristone, an abortion pill to&nbsp;<a class="editor-rtfLink" href="https://www.fda.gov/drugs/postmarket-drug-safety-information-patients-and-providers/information-about-mifepristone-medical-termination-pregnancy-through-ten-weeks-gestation" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">terminate</a>&nbsp;a pregnancy through ten weeks gestation.</li>
<li>But he put his decision on hold for one week to give the Biden administration time to appeal.</li>
<li>Also Read -&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/23/04/31739346/drugmakers-stand-up-for-reproductive-rights-pfizer-and-biogen-among-300-condemning-abortion-pill-" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Drugmakers Stand Up for Reproductive Rights: Pfizer and Biogen Among 300 Condemning Abortion Pill Approval Suspension</a>.</li>
<li>Kacsmaryk&#39;s ruling will take effect at 12 a.m. CT on Saturday if the 5th Circuit does not halt it.</li>
<li>Citing the filing, CNBC&nbsp;<a class="editor-rtfLink" href="https://www.cnbc.com/2023/04/11/abortion-texas-mifepristone-ruling-order-threatens-access.html" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">reported</a>&nbsp;that attorneys general and the District of Columbia condemned Kacsmaryk&#39;s ruling as &quot;legally erroneous&quot; and warned it would undermine the FDA&#39;s approval process.</li>
<li>The attorneys general argued that Kacsmaryk&#39;s order would &quot;eviscerate the sovereign decisions&quot; made by the states to protect access to abortion when last year, the Supreme Court&#39;s decision overturned Roe v. Wade, which said there was a federal constitutional right to abortion.</li>
<li>Kacsmaryk&#39;s decision does not affect the availability of misoprostol, which the World Health Organization recommends as a standalone abortion drug.</li>
<li>States such as California are stockpiling misoprostol if Kacsmaryk&#39;s decision goes into effect.</li>
<li>Photo via Wikimedia Commons</li>
</ul>

Large Cap

Attorney Generals of Over 20 States Sound Alarm Over Suspension Of Abortion Med Approval: "Devastating Risks" Ahead

<ul>
<li>Today, the FDA announced the&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/04/n31699749/fda-commissioner-and-chief-scientist-announce-decision-to-withdraw-approval-of-makena" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">final decision to withdraw</a>&nbsp;approval of Privately held-Covis Pharma&#39;s&nbsp;Makena (hydroxyprogesterone caproate injection), a drug approved under the accelerated approval pathway to reduce the risk of preterm birth.&nbsp;</li>
<li>The decision was issued jointly by the FDA Commissioner and Chief Scientist.&nbsp;</li>
<li>Effective today, Makena and its generics are no longer approved and cannot lawfully be distributed.</li>
<li>The FDA approved Makena under the accelerated approval pathway in 2011 based on a determination that the sponsor had demonstrated a drug effect on an intermediate clinical endpoint that was reasonably likely to predict clinical benefit.&nbsp;</li>
<li>The agency&#39;s approval required the sponsor to conduct a post-marketing confirmatory study.&nbsp;</li>
<li>The confirmatory study did not verify clinical benefit, and the FDA&#39;s Center for Drug Evaluation and Research (CDER) proposed withdrawing the drug&#39;s approval in 2020.&nbsp;</li>
<li>The sponsor requested a hearing, which was held in&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/23/03/31252820/covis-pharma-to-withdraw-only-fda-approved-treatment-to-prevent-preterm-births" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">October 2022</a>.</li>
<li>In October, the FDA&#39;s Obstetrics, Reproductive and Urologic Drugs Advisory Committee voted that Makena should not remain on the market after a large&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/22/10/29337799/citing-ineffectiveness-fda-panel-recommends-taking-down-famed-preterm-birth-drug-from-market" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">study failed to show that it was effective</a>.&nbsp;</li>
<li>Wall Street Journal&nbsp;<a class="editor-rtfLink" href="https://www.wsj.com/articles/fda-forces-the-only-drug-for-preterm-births-to-leave-market-a0e92b24?mod=latest_headlines" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">writes</a>&nbsp;that Makena has possible side effects, including blood clots, depression, and allergic reactions.&nbsp;</li>
<li>Covis said previously that the drug has a strong safety record and that adverse events are rare, but the FDA has said some evidence suggests there may be long-term risks that aren&#39;t yet well understood.</li>
</ul>

FDA Withdraws Lone Premature Birth Drug Makena Over Lack of Proven Benefits

<ul>
<li>U.S. District Judge Matthew Kacsmaryk questioned President Joe Biden&#39;s administration lawyers on whether the federal regulatory approval of the abortion pill mifepristone was proper.</li>
<li>The judge is reportedly considering a request by anti-abortion groups to ban sales of the drug nationwide.</li>
<li>The judge raised the possibility of keeping the drug on the market but re-imposing some restrictions lifted by Biden&#39;s administration, including requiring it to be dispensed in person rather than by mail.&nbsp;</li>
<li>Kacsmaryk said he would rule &quot;as soon as possible.&quot;</li>
<li>Related:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/government/23/03/31297156/new-york-governor-attorney-general-ask-three-pharmacy-operators-commitment-over-abortion-drug-access" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">New York Governor, Attorney General Ask Three Pharmacy Operators&#39; Commitment Over Abortion Drug Access</a>.</li>
<li>The anti-abortion groups sued the FDA in November, accusing the agency followed an improper process to approve mifepristone in 2000. It did not adequately consider the drug&#39;s safety when used by girls under 18.</li>
<li>The plaintiffs are asking Kacsmaryk for a preliminary order halting sales of mifepristone nationwide - even in states where abortion is legal - while their lawsuit proceeds.</li>
<li>Lawyers for the U.S. Justice Department and an attorney for mifepristone&#39;s manufacturer, Danco Laboratories, argued that the plaintiffs had no standing and that mifepristone has an impressive safety and efficacy record,&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/legal/texas-judge-consider-banning-abortion-pill-us-2023-03-15/" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Reuters</a>&nbsp;reported.</li>
<li>Major medical organizations have weighed in on the side of the FDA, saying mifepristone &quot;has been thoroughly studied and is conclusively safe.&quot;</li>
<li>Photo via Wikimedia Commons</li>
</ul>

Regulations

US Judge Weighs Nationwide Ban On Abortion Pills

<ul>
<li>The&nbsp;<a class="editor-rtfLink" href="https://www.fda.gov/news-events/press-announcements/fda-takes-action-restrict-unlawful-import-xylazine" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">FDA issued</a>&nbsp;an &quot;import alert&quot; about the animal tranquilizer xylazine, also called &quot;tranq,&quot; &quot;tranq dope,&quot; and &quot;zombie drug.&quot;&nbsp;</li>
<li>The notice allows agents to seize shipments of xylazine and &quot;unapproved finished drug products&quot; containing it without physically examining the shipments.&nbsp;</li>
<li>The FDA said it will scrutinize incoming xylazine shipments to ensure they are &quot;properly labeled, not adulterated, and for legitimate veterinary use.&quot;&nbsp;</li>
<li>Xylazine, a tranquilizer used on large animals, is not approved for human consumption in the U.S., but so far, tranq dope has reportedly spread to at least 39 states, Washington D.C., and Puerto Rico.&nbsp;</li>
<li>Xylazine can depress breathing, blood pressure, heart rate, and body temperature to critical levels.&nbsp;</li>
<li>Additionally, people who inject drugs containing xylazine can develop severe skin wounds and patches of dead and rotting tissue that easily become infected.</li>
<li>These wounds can develop in areas of the body away from the injection site.</li>
<li>The chemical xylazine has increasingly been found in illicit drugs such as illicitly manufactured fentanyl and other drugs and has increasingly been detected in overdose deaths.</li>
<li>Xylazine is not an opioid, and it&#39;s often mixed with other drugs.</li>
<li>It has been identified as a contaminant found in combination with opioids such as illicit fentanyl and other illicit products that contain stimulants such as methamphetamine and cocaine.&nbsp;</li>
<li>Xylazine is typically sold as a liquid when used for veterinary purposes.&nbsp;</li>
<li>However, according to some reports, several online vendors sell powder forms of xylazine. One China-based seller reportedly said xylazine had become a &quot;hot&quot; product among Americans in 2021.</li>
<li>An October Drug Enforcement Administration&nbsp;<a class="editor-rtfLink" href="https://www.dea.gov/sites/default/files/2022-12/The%20Growing%20Threat%20of%20Xylazine%20and%20its%20Mixture%20with%20Illicit%20Drugs.pdf" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">report</a>&nbsp;found that a kilogram of xylazine powder can be bought from Chinese suppliers from $6-$20 per kilogram.&nbsp;</li>
<li>People who use illicit drugs may not be aware of the presence of xylazine.</li>
<li>Photo by Diamond Rehab Thailand via Pixaby</li>
</ul>

FDA Takes Action To Restrict Unlawful Import Of Animal Tranquilizer 'Tranq' Or ''Zombie Drug'

For the first time in 18 years, there was a new treatment for Alzheimer&rsquo;s Disease approved by the FDA.
Aducanumab from Biogen Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/biib#NASDAQ">BIIB</a>) was <a href="https://www.benzinga.com/general/biotech/21/06/21455132/biogen-gets-fda-nod-for-controversial-alzheimers-drug-first-treatment-approval-for-the-disease-in">approved </a>as a drug that can reduce the clinical decline of dementia. The FDA concluded using Aduhelm (the marketing name of Aducanumab) for Alzheimer&rsquo;s patients outweighs the risk of therapy.
The result saw Biogen shares halted for hours Monday before reopening for trade at $449, significantly above the 52-week high of $363.92. Investors sent shares of ETFs with Biogen up higher prior to shares of Biogen resuming trade.
Here is a look at five ETFs with large exposure to Biogen shares (data as of June 4 from <a href="https://etfdb.com/stock/BIIB/">ETFdb.com</a> and the company&rsquo;s websites).
Invesco Dynamic Biotechnology &amp; Genome ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pbe#NYSE">PBE</a>): +5.1%
The <a href="https://www.invesco.com/us/financial-products/etfs/product-detail?audienceType=Investor&amp;ticker=PBE">Invesco Dynamic Biotechnology &amp; Genome ETF</a> follows the Dynamic Biotech &amp; Genome index, investing at least 90% of assets in securities found in the index. The index includes 30 companies in the sector. The ETF rebalances quarterly in February, May, August and November.
Biogen is the second largest weighted stock in the PBE ETF at 5.23% of assets. Eight of the 31 holdings in the ETF have a weighting of 4.8% or more including Illumina Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ilmn#NASDAQ">ILMN</a>), Gilead Sciences (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gild#NASDAQ">GILD</a>), Bio-Techne (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tech#NASDAQ">TECH</a>), Alexion Pharmaceuticals (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/alxn#NASDAQ">ALXN</a>), Amgen Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amgn#NASDAQ">AMGN</a>), Catalent Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ctlt#NYSE">CTLT</a>) and Qiagen (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/qgen#NYSE">QGEN</a>).
VanEck Vectors Biotech ETF: (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bbh#NASDAQ">BBH</a>): +4.6%
The VanEck Vectors Biotech ETF <a href="https://www.vaneck.com/us/en/investments/biotech-etf-bbh/">follows</a> the MVIS Us Listed Biotech 25 Index, which tracks the performance of companies involved in genetic analysis and diagnostics equipment.
Biogen is the eighth largest holding in the ETF at 4.8% of assets. The ETF&rsquo;s top holdings are Amgen, Moderna Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrna#NASDAQ">MRNA</a>) and BioNTech (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bntx#NASDAQ">BNTX</a>) at 9%, 7.2% and 5.8% of assets respectively.
Related Link: <a href="https://www.benzinga.com/analyst-ratings/21/05/21178928/where-biogen-stands-with-analysts">Where Biogen Stands With Analysts</a>
Invesco BuyBack Achievers ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pkw#NASDAQ">PKW</a>): +2%
Along with several biotechnology sector ETFs, the<a href="https://www.invesco.com/us/financial-products/etfs/product-detail?audienceType=Investor&amp;ticker=PKW"> Invesco BuyBack Achievers ETF</a> was up on news from Biogen&rsquo;s approval. The ETF, which has 109 holdings, is based on the Nasdaq US BuyBack Achievers Index. The Index tracks companies that have a net reduction in shares outstanding of 5% or more over the last trailing twelve months. The ETF is rebalanced quarterly in January, April, July and October.
Biogen is the fifth largest holding in the ETF at 3.5% of assets and the top held health care stock in the fund. Top holdings in the ETF include Oracle Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/orcl#NYSE">ORCL</a>), Charter Communications (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/chtr#NASDAQ">CHTR</a>), eBay Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ebay#NASDAQ">EBAY</a>) and Allstate Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/all#NYSE">ALL</a>).
First Trust NYSE Arca Biotechnology Index Fund (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fbt#NYSE">FBT</a>): +4.3%
The First Trust NYSE Arca Biotechnology Index Fund <a href="https://www.ftportfolios.com/Retail/etf/etfsummary.aspx?Ticker=FBT">tracks </a>an index of 30 holdings that cover several areas of the sector. The ETF has 30 holdings and due to the equal weighting the top 10 holdings represent 3.5% to 4.0% of assets.
Biogen is the eighth largest holdings at 3.5% of assets. The fund rebalances in January, April, July and October to get components to equal weighting.
iShares Nasdaq Biotechnology ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ibb#NASDAQ">IBB</a>): +4.4%
With $10.1 billion assets under management, the<a href="https://www.ishares.com/us/products/239699/ishares-nasdaq-biotechnology-etf"> iShares Nasdaq Biotechnology ETF</a> is one of the largest in the sector and could have a great impact from the Biogen news. The ETF has 277 holdings and tracks an index that covers companies listed on the Nasdaq in both the biotechnology and pharmaceutical fields.
Biogen represents 3.5% of assets and is the seventh largest holding. Top holdings in the ETF are Amgen, Gilead and Moderna at weightings of 8.7%, 7.1% and 6.9%, respectively.
Price Action: Shares of Biogen are up 42% to $405 at the time of writing.&nbsp;

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ALXN

AMGN

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CHTR

CTLT

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ILMN

MRNA

ORCL

QGEN

TECH

5 Top ETFs With Exposure To Biogen

The biotechnology space is always fertile territory for mergers and acquisitions, and that theme was on display over the weekend when AstraZeneca (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/azn#NYSE">AZN</a>) <a href="https://www.benzinga.com/general/biotech/20/12/18763050/astrazeneca-to-buy-rare-disease-specialist-drugmaker-alexion-for-39-billion">announced a $39-billion takeover</a> of&nbsp;Alexion Pharmaceuticals (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/alxn#NASDAQ">ALXN</a>).
U.K.-based AstraZeneca, which is one of the prime players in the COVID-19 vaccine race, is valuing Alexion at $175 per&nbsp;share in this year&#39;s biggest pharmaceuticals takeover.
&ldquo;Alexion has established itself as a leader in complement biology, bringing life-changing benefits to patients with rare diseases. This acquisition allows us to enhance our presence in immunology. We look forward to welcoming our new colleagues at Alexion so that we can together build on our combined expertise in immunology and precision medicines to drive innovation that delivers life-changing medicines for more patients,&rdquo; AstraZeneca CEO Pascal Soriot said&nbsp;<a href="https://finance.yahoo.com/news/astrazeneca-acquire-alexion-accelerating-companys-124800374.html">in a release</a>.
As of the Dec. 11 close, Alexion had a market value of just over $26 billion, meaning it&#39;s a decent-sized player in a variety of <a href="https://www.benzinga.com/trading-ideas/long-ideas/20/12/18764597/new-etf-from-adasina-social-capital-gets-to-heart-of-social-justice-investing">exchange traded funds</a>. Here are a few &ldquo;Alexion ETFs&rdquo; that could be in for a big day&nbsp;Monday.
Invesco Dynamic Biotechnology &amp; Genome ETF (PBE)
The Invesco Dynamic Biotechnology &amp; Genome ETF (NYSEARCA: PBE) <a href="https://www.invesco.com/us/financial-products/etfs/product-detail?productId=ETF-PBE">has a 4.55% weight</a> to Alexion as of Dec. 11, putting the fund in the upper tiers of ETFs in terms of weight to Astra&#39;s new target. That makes Alexion PBE&#39;s eighth-largest holding.
The $250.5-million PBE, which is 15.5 years old, holds 30 stocks with an average market capitalization of $25.23 billion, meaning there are other credible takeover targets in this ETF.
PBE tracks the Dynamic Biotech &amp; Genome Intellidex Index, which is &ldquo;based on a variety of investment merit criteria, including price momentum, earnings momentum, quality, management action, and value,&rdquo; according to Invesco.
VanEck Biotech ETF (BBH)
The VanEck Biotech ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bbh#NASDAQ">BBH</a>) has a 4.71% Alexion weight as of Dec. 11, making the stock the fund&#39;s fifth-largest holding. That&#39;s decent Alexion exposure among ETFs, but the tails that wag the BBH dog are Amgen (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amgn#NASDAQ">AMGN</a>) and Moderna (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrna#NASDAQ">MRNA</a>), which combine for 24.42% of the fund&#39;s weight.
Along with Moderna, BBH has some other coronavirus vaccine exposure, helping the fund to a year-to-date gain of almost 23%. In other words, the Alexion takeover news is just gravy for BBH.
First Trust NYSE Arca Biotechnology Index Fund (FBT)
The First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA: FBT) allocates just over 3% of its weight to Alexion, putting it third by that metric behind the aforementioned PBE and BBH.
FBT is home to 30 stocks. Moving beyond the Alexion news, a case can be made that up to half of FBT holdings are legitimate takeover targets and probably 10%, or slightly more, of the fund&#39;s components are realistic buyers.

Long Ideas

Pre-Market Outlook

3 ETFs For AstraZeneca's $39B Alexion Pharmaceuticals Takeover

After setting scintillating paces earlier this thanks to the race to develop a coronavirus vaccine, some health care exchange-traded funds are languishing.
What Happened: It could be <a href="https://www.benzinga.com/trading-ideas/long-ideas/20/09/17615665/3-health-care-etfs-for-a-new-look-supreme-court">a case of election year jitters</a>, frustrations over the vaccine timeline or both, but plenty of health care ETFs, particularly those emphasizing biotechnology and pharmaceuticals equities, are retreating.
Wall Street isn&#39;t taking the declines sitting down. In fact, a spate of recent downgrades by sell-side analysts are adding fuel to the fire.
&ldquo;The area where analysts do seem to be worried--somewhat surprisingly given the race for a COVID vaccine--is on shares of Health Care stocks, particularly in the Biotech industry, according to the <a href="https://www.etfrc.com/">ETF Research Center (ETFRC)</a>.
Why It&#39;s Important: ETFRC notes that of the 10 ETFs most afflicted by declines in sell-side ratings, six are health care funds, one of which is the Invesco Dynamic Biotechnology &amp; Genome ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pbe#NYSE">PBE</a>). PBE is the worst offender on the list with &ldquo;a 3.1% decline in consensus rating over the past 24 days,&rdquo; according to ETFRC.
PBE, which tracks the Dynamic Biotech &amp; Genome Intellidex Index and holds 31 stocks, is lower by 7.39% over the past month.
&ldquo;A three percent decline might not seem like a lot, but remember it is an average of an average,&rdquo; said ETFRC. &ldquo;Specifically, analysts&#39; ratings are averaged for each constituent in a fund, and then a weighted average of each constituents&#39; average rating is taken to derive a fund-level change. So a ~3% decline in 3 weeks is a significant change in sentiment, representing the biggest aggregate change among more than 700 U.S.-focused ETF we cover.&rdquo;
What&#39;s Next: The Invesco DWA Healthcare Momentum ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pth#NASDAQ">PTH</a>) and the Principal Healthcare Innovators Index ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/btec#NASDAQ">BTEC</a>) are next on the offenders list with 1.8% declines in the quality of analyst ratings, meaning analysts are downgraded plenty of components within these funds.
Due in part to Moderna (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrna#NASDAQ">MRNA</a>) exposure, BTEC was previously a high flier and it has ample utility for investors beyond the coronavirus. It&#39;s well off its previous highs, but BTEC is higher by 2.16% over the past month.
PTH also offers plenty of exposure vaccine developers and more than 44% of its 51 components are biotechnology names, making the momentum-based strategy vulnerable to the recent spate of downgrades afflicting that industry.
Of the three other health care ETFs on the ETFRC list, two are dedicated biotech funds.

Short Ideas

Downgrades

Analyst Ratings

BTEC

PowerShares Dynamic Healthcare Sector Portfolio

3 Health Care ETFs Where Components Are Enduring Downgrades

So far, it&#39;s been a good year for biotech stocks with the Nasdaq Biotechnology Index soaring 19.6% year to date. This is in sharp contrast to last year&#39;s performance when the Index was down 19.1% with several factors including the drug pricing controversy weighing on the sector.
2016 was disappointing from an R&amp;D perspective as well with a fewer number of drugs managing to gain FDA approval and quite a few companies suffering from high-profile pipeline failures. Mixed results, slower-than-expected new product launches and increasing competition were some of the other challenges for the sector. &nbsp;(Read: <a href="https://www.zacks.com/stock/news/282691/time-to-buy-global-low-volatility-etfs">Time to Buy Global Low Volatility ETFs?</a>)
However, ramp up in new product sales, R&amp;D success and innovation, strong results, a higher number of FDA approvals and continued strong performance from key products are some of the factors that have helped the sector recover this year. Moreover, investors now seem more comfortable with the drug pricing scenario and are focusing more on the fundamentals of the sector.
Increasing Threat from Biosimilars
Although biosimilars are yet to pick pace, they remain a major threat for biotech stocks specially companies that are set to lose patent protection for major blockbuster drugs in the next few years. While a relatively new area, the market for biosimilars is huge and highly lucrative with several blockbuster biologics including Humira and Lantus slated to lose patent protection by 2020. Biosimilars are expected to reduce healthcare costs and provide a large number of patients with access to much needed biologic treatments. Biosimilars are also gaining acceptance across formularies.
According to information provided by Express Scripts, about $250 billion could be saved in the next decade (2014 &ndash; 2024) if biosimilars for 11 products including Neupogen, Avastin, Epogen, Humira, Neulasta, Remicade and Rituxan are approved. According to the company, Neupogen and Remicade biosimilars alone represent potential savings of more than $22 billion.
Mergers and Acquisitions (M&amp;As) Yet to Pick Pace
Although expectations were high that M&amp;A activity would pick up in 2017, this did not happen. While several small deals were announced, big-ticket M&amp;A activity was more or less limited with major acquisition news including Johnson &amp; Johnson&#39;s&nbsp;$30 billion acquisition of Actelion and&nbsp;Gilead&#39;s&nbsp;$11.9 billion acquisition of Kite. (Read: <a href="https://www.zacks.com/stock/news/281883/7-topranked-tech-etfs-on-unstoppable-rally">7 Top-Ranked Tech ETFs on Unstoppable Rally</a>)
The sector will receive an additional boost if more M&amp;A deals are announced, though companies are likely to adopt a &quot;wait and see&quot; stance as they await more clarity on the drug pricing situation and tax reforms. Another major deterrent could be high valuations with companies remaining wary of bidding wars leading to over-priced deals.
Higher Number of Drugs Approved So Far in 2017
So far in 2017, the FDA has granted approval to 34 novel drugs, surpassing last year&#39;s total tally of 22. Key approvals in the biotech sector this year include Gilead&#39;s Yescarta (CAR-T therapy for certain types of large B-cell lymphoma) and Vosevi (hepatitis C virus), Puma&#39;s Nerlynx (to reduce the risk of breast cancer returning), Regeneron/Sanofi&#39;s Kevzara (rheumatoid arthritis) and eczema treatment, Dupixent, TESARO&#39;s PARP inhibitor, Zejula and BioMarin&#39;s Brineura (treatment of a specific form of Batten disease) among others. Quite a few of these drugs have blockbuster potential.
The FDA is working on streamlining the development process for drugs for rare diseases as well as for targeted cancer therapies. The agency is also working on clearing up a backlog of orphan drug applications. (Read: <a href="https://www.zacks.com/stock/news/282424/top-ranked-tech-etfs-for-long-term-investors">Top Ranked Tech ETFs for Long Term Investors</a>)
Innovative Pipelines &amp; Catalysts
Biotech companies continue to work on bringing innovative new treatments to market, and there could be significant catalysts in the coming quarters in the form of important new product approvals as well as major data read-outs especially in key therapeutic areas like immuno-oncology, Alzheimer&#39;s, central nervous system disorders, and immunology/inflammation.
ETFs in Focus
Highlighted below are some biotech ETFs -- ETFs present a low-cost and convenient way to get a diversified exposure to the sector.
iShares Nasdaq Biotechnology&nbsp;(IBB)&nbsp;&nbsp;
IBB, launched in February 2001 by BlackRock Investments LLC, tracks the Nasdaq Biotechnology Index. The fund mainly covers biotech stocks (81.9%) with pharma accounting for 9.3%. The top 3 holdings include Amgen (8.4%), Biogen Inc. (8.28%) and Gilead Sciences, Inc. (7.85%). The total assets of the fund as of Oct 30, 2017 were $9.65 billion representing 159 holdings. The fund&#39;s expense ratio is 0.47% while dividend yield is 0.22%. The trading volume is roughly 1,268,319 shares per day.
SPDR S&amp;P Biotech ETF&nbsp;(XBI)
XBI, launched in January 2006 by State Street Global Advisors, tracks the S&amp;P Biotechnology Select Industry Index. The fund covers health care stocks only. Key holdings include Juno Therapeutics, Inc. (2.61%), Sarepta Therapeutics (2.51%), and Exelixis, Inc. (2.42%). The total assets of the fund as of Oct 30, 2017 were $4 billion representing 102 holdings. The fund&#39;s expense ratio is 0.35% while dividend yield is 0.22%. The trading volume is roughly 4,782,719 shares per day.
First Trust NYSE Arca Biotech ETF&nbsp;(FBT)
FBT, launched in June 2006 by First Trust Advisors, tracks the NYSE Arca Biotechnology Index. The top 3 holdings include Alnylam Pharmaceuticals, Inc. (3.68%), Juno Therapeutics, Inc. (3.64%), and Neurocrine&nbsp;Biosciences, Inc. (3.61%). The total assets of the fund as of Oct 27, 2017 were $1.2 billion representing 30 holdings. The fund&#39;s expense ratio is 0.56% while dividend yield is nil. The trading volume is roughly 33,108 shares per day.
VanEck Vectors Biotech ETF&nbsp;(ETF:BBH)
BBH, launched in December 2011 by Van Eck, tracks the Market Vectors US Listed Biotech 25 Index. The fund covers health care stocks. The top 3 holdings include Amgen (11.62%), Celgene Corporation (11.26%) and Gilead Sciences Inc. (11.18%). The total assets of the fund as of Oct 30, 2017 were $668.8 million representing 25 holdings. The fund&#39;s expense ratio is 0.35% while dividend yield is 0.2%. The trading volume is roughly 43,186 shares per day.
PowerShares Dynamic Biotech &amp; Genome ETF&nbsp;(PBE)
PBE, launched in June 2005 by Invesco PowerShares, tracks the Dynamic Biotech &amp; Genome Intellidex Index. The top 3 holdings include Illumina, Inc. (5.31%), Biogen (5.29%), and Gilead Sciences, Inc. (5.11%). The total assets of the fund as of Oct 30, 2017 were $237 million representing 31 holdings. The fund&#39;s expense ratio is 0.58% while dividend yield is 0.84%. The trading volume is roughly 13,247 shares per day.
Conclusion
Although the sector may face some volatility due to the drug pricing issue, pipeline success in innovative and important therapeutic areas, cost-cutting, share buybacks, new products, increased pipeline visibility and appropriate utilization of cash should help maintain investor confidence in this sector.&nbsp;
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Biotech ETFs: What Lies Ahead?

For the moment, the health care sector is the second-largest sector in the S&amp;P 500, well behind technology and just ahead of financial services. That stature is reflected in the world of exchange-traded funds where close to 50 funds provided investors with dedicated health care exposure.
After slumping last year, the health care sector is rebounding in a big way this year. For example, the S&amp;P Health Care Select Sector Index, a widely followed gauge of large-cap health care names, is up more than 18 percent year to date.
&ldquo;With reduced overhangs and improving fundamentals, CFRA thinks investors are in need of a check up on the weight of health care equities in their portfolios,&rdquo; said <a href="https://newpublic.cfraresearch.com/">CFRA Research </a>director of ETF &amp; mutual fund research Todd Rosenbluth in a note published last month. &ldquo;We upgraded our recommended health care sector exposure to Overweight, from Market Weight. The sector joins industrials and materials as our favored sectors in a well-diversified US equity portfolio.&rdquo;
What follows is a broad overview of some of the most well-known health care ETFs on the market as well as some that have &ldquo;hidden gem&rdquo; status.
<h3>
	Traditional Cap-Weighted Health Care ETFs</h3>
The Health Care Select Sector SPDR (NYSE: <a class="ticker" href="/stock/xlv#NYSE">XLV</a>) is the largest health care ETF by assets and the most heavily traded. XLV tracks the aforementioned Health Care Select Sector Index, meaning the ETF is a gauge of many of the most familiar, largest health care names.
Related Link: <a href="https://www.benzinga.com/trading-ideas/long-ideas/17/09/10042524/these-leveraged-china-etfs-are-hot">Hot China ETFs</a>
The ETF&#39;s 64 holdings have a weighted average market value of $124.1 billion. Top 10 holdings in XLV include Dow components Johnson &amp; Johnson (NYSE: <a class="ticker" href="/stock/jnj#NYSE">JNJ</a>), Pfizer Inc. (NYSE: <a class="ticker" href="/stock/pfe#NYSE">PFE</a>) and Merck &amp; Co., Inc. (NYSE: <a class="ticker" href="/stock/mrk#NYSE">MRK</a>). The ETF allocates almost 56 percent of its combined weight to pharmaceuticals and biotechnology stocks.
Similar compositions are found in rival cap-weighted health care ETFs, such as the Vanguard Health Care ETF (NYSE: <a class="ticker" href="/stock/vht#NYSE">VHT</a>) and the Fidelity MSCI Health Care Index ETF (NYSE: <a class="ticker" href="/stock/fhlc#NYSE">FHLC</a>). While FHLC and VHT appear similar to XLV, these are the two cheapest health care ETFs on the market and both funds feature significantly larger lineups than XLV, meaning increased exposure to smaller health care names.
<h3>
	Biotechnology Bounce</h3>
Biotechnology stocks were a big reason why the health care sector disappointed last year, but that scenario has changed in a big way in 2017. Just look at the iShares Nasdaq Biotechnology Index (ETF) (NASDAQ: <a class="ticker" href="/stock/ibb#NASDAQ">IBB</a>). IBB, the largest biotechnology ETF, is up more than 28 percent year to date.
IBB is a good idea for investors that want exposure to the largest biotechnology names, including the likes of Amgen, Inc. (NASDAQ: <a class="ticker" href="/stock/amgn#NASDAQ">AMGN</a>), Celgene Corporation (NASDAQ: <a class="ticker" href="/stock/celg#NASDAQ">CELG</a>) and Biogen Inc (NASDAQ: <a class="ticker" href="/stock/biib#NASDAQ">BIIB</a>).
Investors looking for a different, though still potentially rewarding biotechnology ETF can consider the equal-weight SPDR S&amp;P Biotech (ETF) (NYSE: <a class="ticker" href="/stock/xbi#NYSE">XBI</a>). As an equal-weight biotech ETF, XBI&#39;s weight average market capitalization is just $16.3 billion, indicating that the ETF provides more exposure to the risk/reward proposition offered by some smaller biotechnology stocks.
The PowerShares Dynamic Biotech &amp; Genome(ETF) (NYSE: <a class="ticker" href="/stock/pbe#NYSE">PBE</a>) is a smart beta biotech idea, focusing on traits such as price momentum, earnings momentum, quality, management action and value. PBE holds just 31 stocks.
<h3>
	Leveraged Health Care Ideas</h3>
As the universe of health care ETFs has grown, so has the number of leveraged funds tracking the sector. The Direxion Daily Healthcare Bull 3X Shares (NYSE: <a class="ticker" href="/stock/cure#NYSE">CURE</a>) is the leader among<a href="http://www.direxioninvestments.com/products/direxion-daily-healthcare-bull-3x-etf"> leveraged health care ETFs</a>. CURE looks to deliver triple the daily returns of the aforementioned Health Care Select Sector Index.
There also is not a shortage of leveraged biotechnology ETFs available to aggressive, risk-tolerant traders. Two of the most popular names among geared biotech ETFs include the Direxion Daily S&amp;P Biotech Bull 3X Shares (NYSE: <a class="ticker" href="/stock/labu#NYSE">LABU</a>) and its bearish cousin, the Direxion Daily S&amp;P Biotech Bear 3X Shares (NYSE: <a class="ticker" href="/stock/labd#NYSE">LABD</a>).
LABU looks to deliver triple the daily returns of the S&amp;P Biotechnology Select Industry Index while LABD tries to generate triple the daily inverse <a href="http://www.direxioninvestments.com/products/daily-sp-biotech-bull-3x-shares">returns of that benchmark</a>.
Related Link: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/17/08/9942441/doctor-says-health-care-etfs-look-healthy">A Positive Outlook For Health Care ETFs</a>

Specialty ETFs

CELG

CURE

FHLC

LABD

LABU

Heaps Of Healthy Health Care ETFs

Same as many other biopharmaceutical stocks, Sarepta Therapeutics Inc (NASDAQ: <a class="ticker" href="/stock/srpt#NASDAQ">SRPT</a>) ad a rocky start to the year. However, its luck changed in September, when the FDA approved Exondys 51 (eteplirsen) for the treatment of Duchenne muscular dystrophy (DMD), leading the stock to more than double in price in just a few days. And, while the shares lost about 14.5 percent in October, three-month gains still surpass the 150-percent threshold.
SunTrust has been following the Sarepta story for years now, even since the company was named AVI BioPharma. Benzinga recently had the chance to discuss the company with SunTrust Robinson Humphrey Managing Director and Senior Biotechnology Analyst Edward Nash and Associate Biotechnology Analyst Mike Guo.
<h3>An Unexpected Turn Of Events</h3>
The firm rated Sarepta a Sell &ldquo;because the FDA was so negative,&rdquo; same as experts, Nash began. Clinical data (almost everything empirical, actually) also suggested its lead Duchenne muscular dystrophy (DMD) drug would not be approved.
However, the drug was approved in the end, although reasons were more emotional than data-based. &ldquo;I believe it should&rsquo;ve been approved, but I think it was approved for the wrong reasons,&rdquo; the expert stated.
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/analyst-ratings/analyst-color/16/10/8545489/wedbush-boosts-target-on-sarepta-shares-from-66-to-72-am">Wedbush Boosts Target On Sarepta Shares From $66 To $72 Amid U.S. Launch Of Exondys 51</a></bzrelatedlink>
One way or another, Sarepta&rsquo;s drug for DMD is approved now. And, while many health insurance providers are on board with it, others like Anthem Inc (NYSE: <a class="ticker" href="/stock/antm#NYSE">ANTM</a>) are still questioning if it will do its customers any good &mdash; given the drug&rsquo;s accelerated approval. &ldquo;They may run into some more of this,&rdquo; the analyst added.
The firm is also waiting to see pricing, in terms of price by weight. Adoption numbers might also be higher than currently forecast. &ldquo;There&rsquo;s no doubt though, for Exon 51, a particular type of DMD patients that eteplirsen targets, that we would see a significant number of those patients being put on therapy.&rdquo;
<h3>Other Exon Programs</h3>
In addition to the Exon 51 program, Sarepta has two other Exon skipping programs in Phase III clinical trials, Exon 45 and Exon 53. Nonetheless, these two programs face much higher hurdles, Nash explicated.
For the approval of eteplirsen, the company needs to run some additional Phase III trials, which should start sometime next year &ndash; most likely before mid-year, and would need to beat some more endpoints to remain in the market. This is what the firm will be looking at, Nash concluded.
SunTrust has a Hold rating and $52 price target on shares of Sarepta Therapeutics. Check disclosures <a href="https://suntrust.bluematrix.com/sellside/Disclosures.action">here</a>.
<a href="https://pro.benzinga.com/?utm_source=Benzinga&amp;utm_medium=Benzinga%20Top%20of%20Article&amp;am%22%3">Full ratings data available on Benzinga Pro.</a>
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Disclosure: Javier Hasse holds no interest in any of the securities or entities mentioned above.

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SRPT

Exclusive: SunTrust Managing Director Goes Over Sarepta Therapeutics' Story

The past few months have been great for small cap bluebird bio Inc (NASDAQ: <a class="ticker" href="/stock/blue#NASDAQ">BLUE</a>), which saw its stock appreciate more than 47.6 percent in the last six months and more than 31 percent in the past month alone, largely helped by the entry of its Gen2 LentiGlobin into the clinic.
Benzinga recently had the chance to discuss the company, catalysts and the MEDIGENE AG NPV (OTC: <a class="ticker" href="/stock/mdgef#OTC">MDGEF</a>) collaboration agreement with SunTrust Robinson Humphrey Managing Director and Senior Biotechnology Analyst Edward Nash and Associate Biotechnology Analyst Mike Guo.
<h3>A Leader In Gene Therapy</h3>
&ldquo;[When the company] first became public it was &mdash; and I&rsquo;d say still is &mdash; one of the leaders in the gene therapy space,&rdquo; which is one that has received considerable attention in recent years, Nash stated. Furthermore, over the last two to three years, several private and public companies in the arena have managed to get into the clinic, which the analyst considers surprising, given how rocky the landscape in gene therapy was a decade ago.
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/analyst-ratings/analyst-color/16/09/8510527/maxim-raises-target-on-bluebird-bio-from-85-to-100-maint">Maxim Raises Target On bluebird bio From $85 To $100, Maintains Buy Rating</a></bzrelatedlink>
Bluebird, in particular, is working on Sickle cell disease and beta thalassemia, two hot areas of indications, both for the Street and the biotech sector. The combination of these two specific indications and gene therapy is what has really attracted the attention of investors, Nash added.
&ldquo;Both these diseases are areas where a patient is not producing something they should be producing, and gene therapy has the ability to deliver and correct for that on a genetic level, so that potentially the patient could be permanently cured at best, and, hopefully at worst, would just have to maybe receive an additional therapy every so often, not daily, as most of them are having to do now with these types of diseases,&rdquo; he clarified.
<h3>Catalysts</h3>
The American Society of Hematology (ASH) will host its widely watched annual conference in December. Talking about upcoming catalysts, Nash mentioned that bluebird will be presenting very anticipated data there, after one year without sharing any significant clinical data.
One very important question for the event is, how effective are the company&rsquo;s gene therapies in preventing the patients from having to be infused with blood on a regular basis, he continued, pointing out that the initial data was &ldquo;very robust.&rdquo;
It should be noted that over the past year, analysts and investors gained better understanding of what to expect from bluebird&rsquo;s therapies, Nash went on. We now know that &ldquo;there can be some greys, meaning that there is a potential that it would not cure every patient, but still, if you can get a patient to be transfusion free for&hellip; three months, four months, five months, two years, three years&hellip; and then have to receive the therapy again, that&rsquo;s still far better than having to receive transfusions on a weekly basis.&rdquo;
<h3>The Medigene Agreement</h3>
Finally, Benzinga asked about bluebird&rsquo;s R&amp;D collaboration and license agreement with Medigene, which encompasses T cell receptor (TCR) immunotherapies against four specific targets.
Collaborations among smaller companies working on gene therapies are very important, much more than if we were talking about larger firms or better-understood therapy areas, Nash expounded.
&ldquo;It&rsquo;s definitely important for the longer term aspects, and valuation of the company, down the road. That being said, any valuation that&rsquo;s going to be attributed to the company today is going to be always on indications where there has been clinical data presented.&rdquo;
This does not mean collaborations of this kind are not important. Quite the opposite; they help the companies involved build a pipeline and &ldquo;expertise to go out beyond other areas&hellip;&rdquo; like oncology, he concluded.
SunTrust maintains a Buy rating on shares of bluebird bio.
At last check, bluebird bio was down 2.52 percent at $63.90.
Disclosures: Javier Hasse holds no interest in any of the securities or entities mentioned above.
Bluebird bio is a client of SunTrust Robinson Humphrey, Inc. and the firm has received or is entitled to receive compensation for investment banking services involving their securities within the last 12 months.
An affiliate of SunTrust Robinson Humphrey, Inc. has received compensation for non-securities services from bluebird bio within the last 12 months.
<a href="https://pro.benzinga.com/?utm_source=Benzinga&amp;utm_medium=Benzinga%20Top%20of%20Article&amp;am%22%3">Full ratings data available on Benzinga Pro.</a>
Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email <a href="mailto:feedback@benzinga.com">feedback@benzinga.com</a> with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!

Reiteration

BLUE

MDGEF

Exclusive: SunTrust Managing Director Discusses Bluebird Bio, A Leader In Gene Therapy

The <a href="http://www.benzinga.com/topic/biotech">biotech stocks</a> are hitting fresh new highs to start the week after the announcement of yet another multi-billion dollar deal.

	Pharmaceutical giant Merck &amp; Co., Inc. (NYSE: <a class="ticker" href="/stock/mrk#NYSE">MRK</a>) has agreed to purchase advanced antibiotic pharmaceutical company Cubist Pharmaceuticals Inc (NASDAQ: <a class="ticker" href="/stock/cbst#NASDAQ">CBST</a>) for $9.5 billion.

	The deal breaks down to Merck paying about $102 a share, a 37-percent premium from Cubist&#39;s close on Friday.

	The deal was spurred by the recent rise in antibiotic resistant diseases in the U.S., a field where Cubist already has a well-established and efficient pipeline with drugs on the market as well as some awaiting approval.

	Highlighted below are a number of biotechnology ETFs that were moving after the announcement of the latest deal.

	<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/general/health-care/14/12/5051344/a-technical-look-at-biogens-huge-rally">A Technical Look At Biogen&#39;s Huge Rally</a></bzrelatedlink>
<h3>
	iShares NASDAQ Biotechnology</h3>

	The iShares NASDAQ Biotechnology Index (ETF) (NASDAQ: <a class="ticker" href="/stock/ibb#NASDAQ">IBB</a>) is made up of 118 Nasdaq-listed biotechnology and pharmaceutical companies.

	The top individual holdings include:
<ul>
<li>
		Celgene Corp (NASDAQ: <a class="ticker" href="/stock/celg#NASDAQ">CELG</a>) making up 9 percent of the portfolio</li>
<li>
		Amgen, Inc. (NASDAQ: <a class="ticker" href="/stock/amgn#NASDAQ">AMGN</a>) at 9 percent</li>
<li>
		Regeneration Pharmaceuticals Inc (NASDAQ: <a class="ticker" href="/stock/regn#NASDAQ">REGN</a>) coming in at 8 percent</li>
</ul>

	Newly acquired Cubist makes up a small 1 percent of the biotech ETF. The ETF closed up 1.6 percent on Monday as investors digested the news.

	IBB is up 38 percent year to date and 27 percent over the last six months. The biotech ETFs has an expense ratio of 0.48 percent.
<h3>
	First Trust NYSE Arca Biotechnology</h3>

	The First Trust NYSE Arca Biotchnlgy Index Fd (NYSE: <a class="ticker" href="/stock/fbt#NYSE">FBT</a>) consists of 20 biotech companies that are involved with the process to develop products or provide services in the sector.

	The top holdings include:
<ul>
<li>
		Incyte Corporation (NASDAQ: <a class="ticker" href="/stock/incy#NASDAQ">INCY</a>) with a 4.4 percent holding</li>
<li>
		Alkermes Plc (NASDAQ: <a class="ticker" href="/stock/alks#NASDAQ">ALKS</a>) making up 3.9 percent</li>
<li>
		ISIS Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="/stock/isis#NASDAQ">ISIS</a>) at 3.8 percent</li>
</ul>

	Cubist accounts for 3.3 percent of the ETFs portfolio. The ETF was up more than 2 percent on Monday.

	Since the start of the year the ETF is up 51 percent and 32 percent over the last six months. FBT has expense ratio of 0.60 percent.
<h3>
	PowerShares Dynamic Biotech &amp; Genome</h3>

	The PowerShares Dynamic Biotech &amp; Genome (ETF) (NYSE: <a class="ticker" href="/stock/pbe#NYSE">PBE</a>) tracks 30 U.S. biotechnology and genome companies engaged in research, development, manufacture, marketing and distribution of various biotechnological products, services and processes.

	The top individual holdings include:
<ul>
<li>
		Biogen Idec Inc (NASDAQ: <a class="ticker" href="/stock/biib#NASDAQ">BIIB</a>) at 5.5 percent</li>
<li>
		Gilead Sciences, Inc. (NASDAQ: <a class="ticker" href="/stock/gild#NASDAQ">GILD</a>) making up 5.2 percent</li>
<li>
		AMGN coming in at 5.1 percent</li>
</ul>

	PBE does not have Cubist as a holding, but will benefit from the positive performance of the sector following the news of its acquisition.

	The ETF was up 0.27 percent on Monday. It is up 38 percent year to date and 27 percent over the last six months. The biotech and genome ETF has an expense ratio of 0.59 percent.

	The merger and acquisition trend has been a theme in 2014 as many companies are using their large positions to acquire smaller rivals. The trend has been particularly popular in the biotech arena, as larger companies buy already-established drugs and promising pipelines versus spending large amounts of money on research and development.

ALKS

CBST

INCY

ISIS

REGN

3 Biotech ETFs Rally On Merger News

The biotechnology industry had a big day Monday after the news of Swiss pharmaceutical giant Roche agreed to acquire the U.S biotech company InterMune&nbsp;(NASDAQ: <a class="ticker" href="/stock/itmn#NASDAQ">ITMN</a>) for $8.3 billion in cash.

	The deal breaks down to Roche paying $74.00 a share for InterMune, a 38 percent premium from its close on Friday and a 68 percent premium from August 12,&nbsp;when talks of the acquisition began.

	The purchase gains Roche an idiopathic pulmonary fibrosis drug, Pirfenidone. The drug gives Roche access to a section of the biotech industry that it has struggled to break into over recent years.

	Roche CEO Severin Schwan said during a conference call &ldquo;This will allow Roche to grow and strengthen its pulmonary franchise globally; it&rsquo;s a perfect fit from a portfolio point of view. We plan a smooth transition ensuring readiness for an expected launch of Pirfenidone in the U.S. in 2014.&rdquo;

	<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/etfs/sector-etfs/14/08/4799104/3-retail-etfs-to-consider-heading-into-year-end-sales">3 Retail ETFs To Consider Heading Into Year-End Sales</a></bzrelatedlink>

	The news of Roche&rsquo;s acquisition could be good news for a number of biotech funds across the market. Below are two highlighted ETFs that have InterMune as a top ten holding and rallied on the news Monday.
<h3>
	First Trust Biotechnology Index Fund (NYSE: <a class="ticker" href="/stock/fbt#NYSE">FBT</a>) </h3>

	This fund has an almost 6 percent holding of InterMune, the fund&rsquo;s largest holding out of its 20. FBT closed Monday with a gain of 4.2 percent at a new all-time high.

	It is one of the best performing Biotech ETFs in the market with a 32 percent increase year to date. When a major deal is announced it typically pushed up the price of the peers in the sector and could boost all related stocks. The ETF has an expense ratio of 0.60 percent puts it on par with its competitors.
<h3>
	PowerShares Dynamic Biotechnology &amp; Genome Portfolio (NYSE: <a class="ticker" href="/stock/pbe#NYSE">PBE</a>) </h3>

	This fund consists of 29 holdings with InterMune as its ninth largest holding at 3.5 percent. PBE closed Monday with a gain of 2.9 percent, which was good enough for a new all-time high. PBE is up 27 percent year to date.

	The ETF has historically had a positive response to M&amp;A&rsquo;s, as it surged in June when Merck (NYSE: <a class="ticker" href="/stock/mrk#NYSE">MRK</a>) agreed to acquire Idenix Pharmaceuticals (NASDAQ: <a class="ticker" href="/stock/idix#NASDAQ">IDIX</a>). The top two holdings in the ETF are biotech giants Gilead Sciences (NASDAQ: <a class="ticker" href="/stock/gild#NASDAQ">GILD</a>) and Amgen (NASDAQ: <a class="ticker" href="/stock/amgn#NASDAQ">AMGN</a>), making up 11 percent of the portfolio. The ETF charges a 0.63 percent management fee for the fund.

	As of June 30, Roche has paid off nearly three quarters of the debt it took on when it purchased a 44 percent stake of Genentech in 2009. This new availability in capital may allow Roche to increase its market share with more acquisitions on the near future.

	Roche is not alone, as there will likely be more multi-billion dollar deals in the biotech sector in the year ahead.

IDIX

ITMN

Biotech ETFs Hitting New Highs On Takeover News (FBT, PBE, ITMN)

<a href="http://www.benzinga.com/topic/etfs">ETF</a> Outlook for Tuesday, June 10, 2014

	iShares Dow Jones U.S. Regional Banks ETF (NYSE: <a class="ticker" href="/stock/iat#NYSE">IAT</a>)

	The strong sector Monday was the regional banks as they try and catch up to the rest of the market. IAT was up 1.5 percent to the best level since March and is now within striking distance of a six-year high that was set earlier this year.
 The regional banks suffered a pullback as first quarter earnings were reported, but since that time the sector has bottomed out and it appears investors are ready to rotate money back into the sector.
<bzrelatedlink>Related: <a href="http://www.benzinga.com/etfs/specialty-etfs/14/06/4619450/brazil-etfs-rally-into-world-cup-ewz-brxx-braf">Brazil ETFs Rally Into World Cup (EWZ, BRXX, BRAF)</a>

	Rydex CurrencyShares Euro ETF (NYSE: <a class="ticker" href="/stock/fxe#NYSE">FXE</a>)

	After initially falling to a multi-month low after the <a href="http://www.benzinga.com/topic/ECB">ECB</a> announcement last week, the currency rallied to close higher that day. However, the last two trading sessions have sent the euro to close at the lowest level since February. 
As the markets digest the news that the ECB will continue with the current monetary policy and may even look for more stimulus, investors realize it will be difficult for the <a href="http://www.benzinga.com/topic/euro">euro</a> to move higher.

	PowerShares Dynamic Biotech ETF (NYSE: <a class="ticker" href="/stock/pbe#NYSE">PBE</a>) 

	The ETF led all biotech ETFs on a day that involved a $3.85 billion deal for a little-known biotech stock, Idenix Pharmaceuticals(NASDAQ: <a class="ticker" href="/stock/idix#NASDAQ">IDIX</a>). The purchaser was billion-dollar pharma company, Merck (NYSE: <a class="ticker" href="/stock/mrk#NYSE">MRK</a>), which is after a hepatitis drug that IDIX has been working on. IDIX was up 229 percent Monday and the small exposure that PBE had to IDIX was enough to send the ETF higher by 7.75 percent.
 Other biotech ETFs did not gain as much as PBE, with the Market Vectors Biotech ETF (NYSE: <a class="ticker" href="/stock/bbh#NYSE">BBH</a>) closing down a few pennies Monday. This is a lesson on knowing what is under the hood of your ETF before you buy.

	ProShares High Yield Interest Rate Hedged ETF (BATS: HYHG)

	A 0.35 percent gain for HYHG Monday was not going to grab the attention of many investors. However the move put the ETF at the best closing high in over a month.
 HYHG is an interesting fixed income ETF because it is long corporate junk bonds as well as short U.S. Treasury bonds. The combination has been working recently as junk bonds move higher in value and yields are starting to rise and therefore Treasuries are falling in value. On top of that the ETF pays a 4.6 percent annual dividend.
</bzrelatedlink>

Currency ETFs

Previews

iShares Dow Jones US Regional Banks Index Fund

ETF Outlook For Tuesday, June 10, 2014 (IAT, FXE, PBE, HYHG, IDIX, MRK)

Shares of the following exchange traded funds are trading more than 20 percent higher than 90 days ago, and they are within 10 percent of their 52-week highs. 

This set of ETFs provides a peek at areas of investor interest during and after the holiday shopping season, as uncertainty over the Federal Reserve's quantitative easing faded, during the six percent market correction and one of the most brutal winters in years.

First Trust NYSE Arca Biotech Index (NYSE: <a class="ticker" href="/stock/fbt#NYSE">FBT</a>) is up more than 12 percent year to date and hit a new multiyear high on Friday. A recent pullback in the biotechnology sector has been quite shallow and signs suggest that the correction may already be over.

The investment tracks the price and yield the NYSE Arca Biotechnology Index, an equal-dollar weighted index designed to measure the performance of a cross-section of biotech companies that are primarily involved in the use of biological processes to develop products or provide services. Top holdings include Alexion Pharmaceuticals, Ilumina and Myriad Genetics.

iShares Nasdaq Biotechnology (NASDAQ: <a class="ticker" href="/stock/ibb#NASDAQ">IBB</a>) has risen more than 21 percent in the past 90 days to reach a new 52-week high on Friday. The speculative fervor that investors have for the biotech sector continues to be very strong.

This non-diversified fund seeks to track the investment results of an index of equities listed on the Nasdaq that are classified according to the Industry Classification Benchmark as either biotechnology or pharmaceuticals and that also meet other eligibility criteria. Top holdings include Celgene, Gilead Sciences and Amgen.

See also: <a href="http://www.benzinga.com/news/14/02/4298500/five-ways-to-deal-with-the-changing-market-environment">Five Ways To Deal With The Changing Market Environment</a>

Market Vectors Biotech ETF (NYSE: <a class="ticker" href="/stock/bbh#NYSE">BBH</a>) is about 14 percent higher than at the beginning of the year and reached a multiyear high on Friday. Among the drivers of the growth in biotech are an increase in mergers and acquisitions, as well as a boom in health care in emerging markets.

The investment seeks to replicate the price and yield performance of the Market Vectors U.S. Listed Biotech 25 Index, which is comprised of common stocks and depositary receipts of U.S. exchange-listed companies in the biotechnology sector. Top holdings in this ETF include Gilead Sciences, Amgen and Biogen Idec.

PowerShares Dynamic Biotech &amp; Genome (NYSE: <a class="ticker" href="/stock/pbe#NYSE">PBE</a>) is trading more than 22 percent higher than three months ago and almost 76 percent higher than a year ago. It also hit a 52-week high on Friday. The growing population of the insured due to the Affordable Care Act has been a positive for the health care sector. 

The investment seeks results that generally correspond to the price and yield of the Dynamic Biotechnology &amp; Genome Intellidex Index, which is composed of common stocks of 30 U.S. biotechnology and genome companies. The fund's top holdings include Illumina and Alexion Pharmaceuticals.

SPDR S&amp;P Biotech (NYSE: <a class="ticker" href="/stock/xbi#NYSE">XBI</a>) is almost 19 percent higher since the beginning of the year, but now down less than three percent from the 52-week high reached in January. The momentum in biotechnology stocks recently is due in part to the interest of institutional investors.

The investment seeks investment results that correspond generally to the total return performance of the S&amp;P Biotechnology Select Industry Index, which represents the biotechnology industry group of the S&amp;P Total Market Index. Top holdings include Intercept Pharmaceuticals and ARIAD Pharmaceuticals.

See also: <a href="http://www.benzinga.com/etfs/sector-etfs/14/02/4311279/2-metal-etfs-that-cannot-be-ignored">Two Metal ETFs That Cannot Be Ignored</a>

United States Natural Gas (NYSE: <a class="ticker" href="/stock/ung#NYSE">UNG</a>) is trading more than 38 percent higher than three months ago, including a six percent pop in the past week as shares recover from a more than 10 percent pullback from a 52-week high earlier in the month. Cold weather has led to dwindling natural gas inventories.

The investment seeks to replicate the performance, net of expenses, of natural gas. The trust invests in futures contracts on natural gas traded on the NYMEX that are the near month contract to expire. 
The fund was established in April of 2007.

United States 12 Month Natural Gas (NYSE: <a class="ticker" href="/stock/unl#NYSE">UNL</a>) is almost 22 percent higher over the past three months and less than a buck a share from reclaiming the 52-week high set last May. Investors can take a smaller position through natural gas ETFs than through directly trading in natural gas futures.

The investment seeks to reflect the changes of the spot price of natural gas delivered at the Henry Hub, Louisiana, as measured by the changes in the average of the prices of 12 futures contracts on natural gas traded on the NYMEX. The fund generally consists of the near month contract to expire and the contracts for the following eleven months.

At the time of this writing, the author had no position in the mentioned equities.

Keep up with all the latest breaking news and trading ideas by following us on <a href="https://twitter.com/Benzinga">Twitter</a>.

Biotech And Natural Gas ETFs On A Roll

ETF Outlook for Wednesday, January 8, 2014.

	ROBO-STOX Global Robotics &amp; Automation ETF (NYSE: <a class="ticker" href="/stock/robo#NYSE">ROBO</a>)

	The young ETF, launched in October 2013, is starting to gain some attention and an increase in volume should follow in the months ahead. One of the ETFs holdings, iRobot (NASDAQ: <a class="ticker" href="/stock/irbt#NASDAQ">IRBT</a>), surged 7.1 percent Monday after it announced the launch of a new floor cleaning product.

	The move did not have a big affect on ROBO yesterday, but the money flowing into automation and robotics stocks is picking up and with ROBO the only game in town it could be a big winner.

	PowerShares Dynamic Biotech ETF (NYSE: <a class="ticker" href="/stock/pbe#NYSE">PBE</a>)

	The ETF was one of the best performers yesterday with a gain of 4.7 percent. The ETF closed at a new all-time on above average volume. The move was odd because only one of the top holdings, Pharmacyclics (NASDAQ: <a class="ticker" href="/stock/pcyc#NASDAQ">PCYC</a>), had a big move, rallying 19.9 percent.

	See also: <a href="http://www.benzinga.com/news/14/01/4200493/bloomberg-markets-magazine-names-glenview-capital-top-2013-hedge-fund">Bloomberg Markets Magazine Names Glenview Capital Top 2013 Hedge Fund</a>

	Apparently that was enough to help the ETF triple the return of its competitors (IBB and BBH). It will not be a surprise to see PBE underperform today after the breakout yesterday.

	Market Vectors Semiconductor ETF (NYSE: <a class="ticker" href="/stock/smh#NYSE">SMH</a>)

	The tech ETF bounced off support yesterday with a gain of 0.3 percent after falling three consecutive sessions. The pullback was a nonevent considering the ETF closed out 2013 at the best level in a decade. When trading opens this morning SMH could be set to retest the highs after its number six holding reported positive news last night.

	Micron (NYSE: <a class="ticker" href="/stock/mu#NYSE">MU</a>) reported strong numbers that led the stock to immediately rally nearly 6 percent in after hours trading. The stock makes up 4.6 percent of SMH and could influence its peers trading activity today.

	iShares MSCI Europe Financials ETF (NYSE: <a class="ticker" href="/stock/eufn#NYSE">EUFN</a>)

	The basket of financial stocks based in Europe rose by 2.0 percent yesterday to the highest level in years. The rally was broad based with stocks from several countries in the region breaking out of trading ranges.

	Within Europe, the most economically sensitive sector is the financials and as the economic backdrop strengthens it should not be a surprise to see the sector lead any rally. The ETF easily beat the performance of its U.S. counterpart, the SPDR Financial ETF (NYSE: <a class="ticker" href="/stock/xlf#NYSE">XLF</a>), which was up a penny yesterday.

New ETFs

iShares MSCI Europe Financials Sector Index Fund

EUFN

IRBT

PCYC

ROBO

ETF Outlook for Wednesday, January 8, 2014 (ROBO, PBE, SMH, EUFN)

ETF Outlook for Wednesday December 11, 2013

	SPDR Financial ETF (NYSE: <a class="ticker" href="/stock/xlf#NYSE">XLF</a>)

	The passage of the Volcker Rule on Tuesday did not have a big impact on the large financial firms. At one point Goldman Sachs (NYSE: <a class="ticker" href="/stock/gs#NYSE">GS</a>) was trading at its best intraday level in several years.

	Related: <a href="http://www.benzinga.com/news/earnings/13/12/4146366/premarket-primer-for-december-11-us-government-takes-first-steps-towards#ixzz2nAMXpTQK">#PreMarket Primer for December 11: US Government Takes First Steps Towards Budget Deal</a>

	XLF finished the day with a minimal loss of 0.3 percent and is not far from a five-year high. The muted reaction could be due to the fact that investors had anticipated the rule was going to be passed at some point. And even more importantly, the large financial firms were prepared for the new rules.

	iShares S&amp;P North America Technology-Multimedia Networking ETF (NYSE: <a class="ticker" href="/stock/ign#NYSE">IGN</a>)

	After the closing bell last night Citi upgraded shares of Qualcomm (NASDAQ: <a class="ticker" href="/stock/qcom#NASDAQ">QCOM</a>) and started Cisco (NASDAQ: <a class="ticker" href="/stock/csco#NASDAQ">CSCO</a>)and Brocade (NASDAQ: <a class="ticker" href="/stock/brcd#NASDAQ">BRCD</a>) with Sell recommendations. The stocks were moving in the direction of the new calls made by Citi. All three stocks are in the top seven holdings of IGN and make up a combined 22 percent of the entire ETF.

	Even though there was both buy and sell recommendations by the firm, there is a high probability the ETF will be on the move today as investors make both bullish and bearish moves.

	PowerShares Dynamic Biotech ETF (NYSE: <a class="ticker" href="/stock/pbe#NYSE">PBE</a>)

	After hitting an all-time high two weeks ago, the ETF has pulled back four percent after another 1.1 percent fall yesterday. The chart of PBE is one of the most interesting of the sector ETFs. The pullback has brought the ETF to prices support at $36 and the 50-day moving average that is also in the area.

	Add in the ETF moving from overbought and due for some selling to oversold and it appears PBE is ripe for a bounce in the next couple of days. The support area to watch is $35.50 to $36.00.

	iShares MSCI Australia ETF (NYSE: <a class="ticker" href="/stock/ewa#NYSE">EWA</a>)

	The last six weeks have not been kind to Australian equities. The ETF is down over 10 percent and yesterday hit a new three month low. Over the last few years the ETF has been a disappointment as falling commodity prices couple with a slowing in China has hurt the Aussie economy.

	With the outlook for commodity prices from gold to coal still bearish it could be some time until the land down under is able to recover fully. When compared its peers, in particularly the iShares MSCI New Zealand Investable Market ETF (NYSE: <a class="ticker" href="/stock/enzl#NYSE">ENZL</a>), the ETF is not a buying opportunity because there are better options in the market.

BRCD

CSCO

iShares MSCI New Zealand Investable Market Index Fund

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Invesco Biotechnology & Genome ETF

Overview

Invesco Biotechnology & Genome ETF (ARCA:PBE), Quote.Headers.trade-ideas