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3 Biotech Stocks to Track: Exelixis, Inc. (EXEL), bluebird bio Inc (BLUE), Sarepta Therapeutics Inc (SRPT)

The S&P 500’s financial-stocks index rose 1.8%. J.P. Morgan Chase gained $1.32, or 2%, to $67.45. Goldman Sachs Group rose 3.09, or 1.6%, to 193.66.

A rate increase would be good news for stock investors, said Michael Levine, a portfolio manager at OppenheimerFunds. “The uncertainty is detrimental,” he said, adding that the Oppenheimer Equity Income Fund that he manages has outsize exposure to some banks.

But not all investors are convinced that the Fed will raise rates next month.

Federal-funds futures, used by investors and traders to place bets on central-bank policy, showed Wednesday that they see a 68% likelihood of a Fed rate increase at its Dec. 15-16 policy meeting, according to data from CME Group.

The probability was 72% before the minutes were released. It had been 38% before Fed officials on Oct. 28 said they might raise short-term rates in December. Their statement, after a two-day policy meeting, sent the Dow industrials up 1.1% that day.

The yield on the 10-year Treasury note rose to 2.269%, from 2.262% on Tuesday. Yields rise as prices fall.
Exelixis, Inc. (NASDAQ:EXEL) stock edged higher by +2.84% to close Wednesday’s session at USD 5.80. The company’s shares hovered between USD 6.80 and USD 1.26 (marking a new 52-week high/low) during the session. The stock traded with the volume of 7.35 million shares, which was above its 3 month average volume of 1.52 million shares. Over the last 5 days, Exelixis, Inc‘s shares have declined by -7.39% and in the past one month it has moved up 5.07%.Exelixis, Inc.(NASDAQ:EXEL)on November 10, 2015 reported financial results for the third quarter of 2015 and provided an update on progress toward delivering upon its key 2015 corporate objectives and clinical development milestones. Following release of positive results from the pivotal METEOR trial, Exelixis is focused on expediting its regulatory submissions and augmenting its commercial infrastructure to support the potential launch of its lead compound, cabozantinib, in advanced renal cell carcinoma (RCC) in the United States. At the same time, in support of its collaboration partner, Genentech, a member of the Roche Group, Exelixis is rolling out its portion of the U.S. sales force promoting COTELLICTM (cobimetinib), a second Exelixis-discovered compound, following recent regulatory approvals for the compound in combination with vemurafenib for the treatment of BRAF V600 mutation-positive unresectable or metastatic melanoma in the United States and Switzerland.

Can Investors Bet on EXEL after this News update? Find out in this Research Report

bluebird bio Inc (NASDAQ:BLUE) gained +6.26% to close Wednesday’s session at USD 84.59. The shares of the company fluctuated in the range of USD 197.35 and USD 39.02 (marking a new 52-week high/low) during the session. A trading volume of 1.94 million shares was recorded, which was greater than its 1 month daily average volume of 1.69 million shares. Over the three months, bluebird bio Inc‘s shares have declined by -30.24% and in the past one year, it has gained 104.32%. bluebird bio Inc(NASDAQ:BLUE)a clinical-stage company committed to developing potentially transformative gene therapies for severe genetic diseases and T cell-based immunotherapies, on November 4, 2015 reported business highlights and financial results for the third quarter ended September 30, 2015.

What BLUE Charts Are Signaling for Traders? Find Out Here

Sarepta Therapeutics Inc (NASDAQ:SRPT)‘s stock increased by +1.54% to close Wednesday’s session at USD 27.72. The Company’s shares oscillated in the range of USD 27.12 and USD 29.12. A total of 2.32 million shares exchanged hands, which surpassed its 1 month daily average volume of 1.72 million shares. Over the last five days Sarepta Therapeutics Inc‘s shares have surged by 7.40% and in the past six months it has moved up 14.26%. Sarepta Therapeutics Inc(NASDAQ:SRPT) a developer of innovative RNA-based therapeutics, on November 17, 2015 announced that the Annals of Neurology published online [link to final article] positive efficacy and safety results from a Phase IIb long-term open-label extension study of eteplirsen in patients with Duchenne muscular dystrophy (DMD) amenable to exon 51 skipping. The study found that at three years of treatment, patients experienced a slower rate of disease progression when compared to untreated matched historical controls and the investigational drug continued to be well-tolerated.

Is SRPT a Solid Investment at These Levels? Read This Report For Details