Actionable news
0
All posts from Actionable news
Actionable news in IONS: IONIS PHARMACEUTICALS Inc COMMON STOCK,

Beaten-down biotech shares could see a monster relief rally after Election Day

Beaten-down biotech stocks could be set for a turnaround after Election Day, according to one strategist.

The Nasdaq Biotech ETF, the IBB, is down 21 percent year to date, and down just over 30 percent since hitting an all-time-high last July, but Stacey Gilbert of Susquehanna says a "relief rally" could be imminent.

"The big event, clearly, for the biotech space right now is the election," Gilbert said Friday on CNBC's "Power Lunch."

She noted that if Democratic nominee Hillary Clinton were to win the election and the Democrats were to sweep the House, it could be bad for the biotech space. However, with the likelihood of an all-Democratic house slim, she does expect to see a 3 to 5 percent rally for the group of stocks in...


More