July 17, 2013 at 11:40 AM EDT
Wall Street Fundamentals Releases New In-Depth Stock Reports on CYTK, DNDN, IMGN and NVAX
The biotech industry has continued to outperform the broader markets in 2013. On average, the iShares biotech ETF (NASDAQ: IBB), which is up approximately 39.0 percent year-to-date, has gained 19 percent over the past five year, almost 10 percentage points more than the SPDR S&P 500 ETF (NYSEARCA: SPY). Additionally, the biotech group within the S&P 1500 has gained nearly 47 percent this year, which ranks third amongst 160 different industries. "After climbing 40% in 2012, biotech is still hot," says Sam Stovall, Chief Equity Strategist of S&P Capital IQ's Equity Research Group. "This is an industry we're very optimistic about, and it's one of our favorites going forward over the next 12 months."
Cytokinetics, Inc. (NASDAQ: CYTK) shares traded in the range of $13.26 to $13.81 Tuesday before settling to close at $13.70, an increase of 1.41 percent. The stock appears to be facing some resistance at $14.11 with some support at the $13.48 and $12.89 levels. Shares of Cytokinetics have gained over 245 percent in 2013.
More information on Cytokinetics and access to the free equity report can be found at:
Dendreon Corporation (NASDAQ: DNDN) shares traded in the range of $4.50 to $4.68 Tuesday before settling to close at $4.52, a decrease of 1.09 percent. The stock appears to be facing some resistance at the $4.52 and $4.73 levels with some support at $4.30. Shares of Dendreon have fallen approximately 14.5 percent in 2013.
More information on Dendreon and access to the free equity report can be found at:
ImmunoGen, Inc. (NASDAQ: IMGN) shares traded in the range of $18.84 to $19.50 Tuesday before settling to close at $19.02, a decrease of 2.16 percent. The stock appears to have some support at the $18.98, $18.35 and $17.79 levels. Shares of ImmunoGen have gained approximately 49.2 percent in 2013.
More information on ImmunoGen and access to the free equity report can be found at:
Novavax, Inc. (NASDAQ: NVAX) shares traded in the range of $2.54 to $2.64 Tuesday before settling to close at $2.58, a decrease 2.27 percent. The stock appears to be facing some resistance at the $2.59 and $2.69 levels with some support at $2.53. Shares of Novavax have gained approximately 36.5 percent in 2013.
More information on Novavax and access to the free equity report can be found at:
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Disclaimer: Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investor's reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. Wall Street Fundamentals has no financial relationship with any company whose stock is mentioned in this release.
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