Biotech stocks (SPSIBI) are higher Monday following a Barron’s article suggesting selected shares look attractive following a 27% selloff in the sector from February highs of near $4,400.
Mentioned in the article are Amgen (AMGN), up 2.1% at $114.29 per share, Gilead Sciences (GILD) up 1.6% at $67.09, and Celgene (CELG) up 1.2% at $138.51 per share. The article also said profits in some companies, such as Celgene and Gilead, may double by 2017.
The S&P Biotech Select Industry is up 0.7% at $3,236.01 in midday Monday trading.
Other biotech stocks having a good day are XLRN up 5.3%, CYTK up 4.8%, and SGMO up 2.6%.