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 49.0 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."
Achillion Pharmaceuticals, Inc. (NASDAQ: ACHN) shares traded in the range of $7.10 to $7.39 Monday before settling to close at $7.38, an increase of 2.50 percent. The stock appears to be facing some resistance at the $7.44 and $7.53 levels with some support at $7.24. Shares of Achillion Pharmaceuticals have fallen approximately 8.0 percent in 2013.
More information on Achillion Pharmaceuticals and access to the free equity report can be found at:
www.WallStreetFundamentals.com/ACHN
Bioline RX Ltd. (NASDAQ: BLRX) shares traded in the range of $2.18 to $2.44 Monday before settling to close at $2.30, an increase of 10.05 percent. The stock appears to be facing some resistance at the $2.32 and $2.41 levels with some support at $2.13. Shares of Bioline RX have fallen approximately 9.0 percent in 2013.
More information on Bioline RX and access to the free equity report can be found at:
www.WallStreetFundamentals.com/BLRX
Discovery Laboratories, Inc. (NASDAQ: DSCO) shares traded in the range of $1.98 to $2.23 Monday before settling to close at $2.09, an increase of 5.56 percent. The stock appears to be facing some resistance at the $2.20 and $2.39 levels with some support at $1.80.
More information on Discovery Laboratories and access to the free equity report can be found at:
www.WallStreetFundamentals.com/DSCO
Oncolytics Biotech, Inc. (NASDAQ: ONCY) shares traded in the range of $2.75 to $3.50 Monday before settling to close at $2.99, an increase of 12.83 percent. The stock appears to be facing some resistance at the $3.06 and $3.09 levels with some support at $2.97. Shares of Oncolytics Biotech have fallen approximately 24.0 percent in 2013.
More information on Oncolytics Biotech and access to the free equity report can be found at:
www.WallStreetFundamentals.com/ONCY
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