What Happened?
Shares of life sciences company Bio-Techne (NASDAQ: TECH) jumped 2.8% in the afternoon session after Baird adjusted its price target on the company, signaling a more positive outlook. The investment firm raised its price target on Bio-Techne to $62 from $53. The stock's rise also occurred as the broader market showed strength. Stocks rose after solid earnings reports from major tech companies like Apple and Amazon beat expectations, which seemed to spark a rally in the sector. Bio-Techne's move followed a recent period of volatility, which included a sharp surge of over 18% in the preceding month.
After the initial pop the shares cooled down to $62.72, up 2.9% from previous close.
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What Is The Market Telling Us
Bio-Techne’s shares are very volatile and have had 20 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 29 days ago when the stock gained 3.6% on the news that news of a new government prescription drug policy and a landmark deal with Pfizer eased investor concerns over stricter pricing regulations. The pharmaceutical and biotech sectors rallied for a second consecutive day following the announcement of a direct-to-consumer prescription drug selling website. A key driver for the optimism is a deal between Pfizer and the administration, allowing the company to avoid potential tariffs by reducing drug prices. This outcome is seen as a relief for the industry, which had braced for more severe measures. The move has reduced uncertainty in the sector, with other major players like Eli Lilly reportedly in negotiations for a similar agreement, signaling a potentially favorable new landscape for drugmakers.
Bio-Techne is down 12.3% since the beginning of the year, and at $62.72 per share, it is trading 20.4% below its 52-week high of $78.75 from January 2025. Investors who bought $1,000 worth of Bio-Techne’s shares 5 years ago would now be looking at an investment worth $964.92.
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