💊 Biotech Stocks Surge as AbbVie Advances Schizophrenia Drug, Regeneron Gains FDA Approval for COPD Treatment | Biotech Sector Insights
Regeneron Pharmaceuticals (REGN) contributed positively following the FDA approval of its Dupixent for COPD treatment, marking a significant milestone as the first biologic medicine approved for this indication in the U.S. Amgen (AMGN) also saw a boost.
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Below are AI-generated insights on moves in the health care/biotechnology sector, powered by MarketReader technology.
Friday, September 27
IBB [+1.2%]
The iShares Biotechnology ETF (IBB) has increased by 1.2% since Thursday, driven by notable performances among its holdings. Regeneron Pharmaceuticals (REGN) contributed positively following the FDA approval of its Dupixent for COPD treatment, marking a significant milestone as the first biologic medicine approved for this indication in the U.S. Amgen (AMGN) also saw a boost after Cantor Fitzgerald initiated coverage with an Overweight rating and a price target of $405.00. Other contributors included Moderna (MRNA), Gilead Sciences (GILD), and Vertex Pharmaceuticals (VRTX). In the broader market context, the Russell 2000 Index has risen by 1.61%, suggesting that sentiment in small-cap stocks may be influencing the biotech sector as well.