Biotechs Continue to Underperform (IBB)

Biotech stocks were pressured Thursday, with NASDAQ Biotechnology Index falling 3%. Weakness outpaced softness in other areas, with Nasdaq composite lower by only 0.45%.

Nasdaq Biotech currently trades at 2537, just north of its year to date low of 2517 -- a level hit on Feb. 11. At that time, Nasdaq traded at 4210 vs its current level of 4740.

Top holding in related ETF iShares Nasdaq Biotech ETF (Nasdaq: IBB) include Celgene (NASDAQ: CELG), Amgen (NASDAQ: AMGN), Biogen (NASDAQ: BIIB), Gilead Sciences (NASDAQ: GILD), and Regeneron (NASDAQ: REGN), Mylan (NASDAQ: MYL), Illumina (NASDAQ: ILMN), Alexion Pharma (NASDAQ: ALXN), Vertex Pharma (NASDAQ: VRTX), and BioMarin Pharma (NASDAQ: BMRN).

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