💊 IBB Gains as NBIX, EXEL, and TECH Rally on Strong Q3 Results and Guidance Raises | Biotech Sector Insights
The iShares Biotechnology ETF (IBB) has seen a price increase of 0.4% since Tuesday. Notable contributors to this performance include Neurocrine Biosciences Inc (NBIX), (EXEL) .
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Below are AI-generated insights on moves in the health care/biotechnology sector, powered by MarketReader technology.
Wednesday, October 30
IBB [+0.4%]
iShares Biotechnology ETF (IBB)
The iShares Biotechnology ETF (IBB) has seen a price increase of 0.4% since Tuesday. Notable contributors to this performance include Neurocrine Biosciences Inc (NBIX), which reported strong Q3 2024 results, surpassing earnings and revenue estimates while raising its full-year revenue guidance and announcing a significant stock buyback plan. Exelixis Inc (EXEL) also posted robust Q3 2024 results, exceeding EPS and sales expectations, and raised its full-year sales guidance. Intra-Cellular Therapies (ITCI) missed EPS estimates but exceeded revenue expectations, subsequently raising its full-year net product sales guidance for CAPLYTA. Additionally, Bio-Techne Corporation (TECH) showed positive movement. These developments among key holdings have coincided with the ETF's upward price movement today.