After starting the week ended March 28 on the backfoot, biotech stocks recovered through the week. Activity in the space remained light, although coronavirus (COVID-19) news flow continued to dominate.Here are the key catalysts that may impact biotech stocks in the unfolding week.Conferences Most conferences stand cancelled in the wake of the COVID-19 pandemic, but a few have opted to go ahead with virtual conferences.The American College of Cardiology or ACC's, 69th Annual Scientific Session together with the World Congress of Cardiology, or WCC, Virtual Conference - ACC.20/WCC Virtual: March 28-30See Also: Abbott Labs To Launch Point-Of-Care Test That Can Detect Coronavirus Within 5 MinutesPDUFA Dates The FDA is set to rule on AstraZeneca plc's (NYSE: AZN) sBLA for Imfinzi in previously untreated patients with extensive-stage small cell lung cancer. The PDUFA action date has been fixed for the first quarter.Acceleron Pharma Inc (NASDAQ: XLRN) and Bristol-Myers Squibb Co (NYSE: BMY)...
(Bloomberg) -- For passengers on a Holland America Line cruise ship, a fun-filled voyage on the luxury liner is quickly turning into a nightmare with deteriorating conditions on board and fears of a full-blown coronavirus outbreak after four travelers died and two others were infected.“We are stuck on this death ship,” said Yadira Garza, who is on board with her newly-wed husband. “We are freaked out and terrified that we will be infected too. It’s just a matter of time if we stay on the ship.”Passengers on the Zaandam, currently off the coast of Panama, say they are desperate to get off the liner after Chile wouldn’t allow the vessel to dock. The company also said all ports on the ship’s route have also refused entry. Guests and their family members have taken to Twitter to plead for help.Then came some good news on Saturday: the ship’s captain announced Holland America...
Gilead Sciences Inc. (GILD) said it is expecting to have initial remdesivir drug data in coming weeks. The experimental drug is currently being evaluated as a potential treatment for coronavirus patients.“Multiple studies are ongoing, and we are on track to have initial data in the coming weeks,” said Gilead CEO and chairman Daniel O’Day. “If it is approved, we will work to ensure affordability and access so that remdesivir is available to patients with the greatest need.”TipRanks analytics show out of 19 analysts, 10 are bullish with a Buy rating on Gilead stock, 8 are sidelined with a Hold rating and only 1 is bearish with a Sell rating. The 12-month consensus price target of $77.67 shows a modest potential upside of 6.6%. (See Gilead stock analysis on TipRanks) O’Day said that Gilead was making remdesivir available outside of the clinical trials and investigating whether it is effective as a treatment for COVID-19. Distribution...
When volatility reigns, like now, 401(k) investors can actually benefit from adding to holdings in great companies that are suddenly selling cheaply....
* This weekend's Barron's offers 25 tech stock picks for a coronavirus world. * Other featured articles look at whether drug makers should be more coronavirus-focused, stocks to buy for the long run and which dividends are safer. * Also, the prospects for a Japanese conglomerate, the top electric vehicle maker, real estate investment trusts and more."Tech Stocks to Buy Amid the Chaos" by Eric J. Savitz points out that the coronavirus sell-off is creating opportunities across the tech landscape. Five experts share their top picks, including Microsoft Corporation (NASDAQ: MSFT) and some of the FAANG stocks.Josh Nathan-Kazis's "Big Pharma and Biotech Need to Do More to Fight Against Covid-19" asks whether drug makers from Pfizer Inc. (NYSE: PFE) to Gilead Sciences, Inc. (NASDAQ: GILD) should be doing nothing else now but focusing on halting the coronavirus.In "Forget the Politics, It's Time to Buy Stocks," Jack Hough looks at why investors...
