💊 Summit Therapeutics Surges on Analyst Upgrade, While Humacyte Drops Amid Dilution Concerns and Amgen Faces Mixed Drug Trial Results | Biotech Sector Insights
Amgen (AMGN), which dropped significantly following its approval for TEPEZZA in Japan, despite positive trial results for other treatments. Regeneron (REGN) faced challenges after a legal ruling favoring Amgen, although analysts remain optimistic about its market share growth.
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Wednesday, September 25
IBB [-0.2%]
The iShares Biotechnology ETF (IBB) has decreased today, reflecting broader market sentiment as the Russell 2000 Index also declined by 0.31%. Among the ETF's holdings, significant negative contributions came from Amgen (AMGN), which dropped significantly following its approval for TEPEZZA in Japan, despite positive trial results for other treatments. Regeneron (REGN) faced challenges after a legal ruling favoring Amgen, although analysts remain optimistic about its market share growth. Medpace Holdings (MEDP) was downgraded to a hold rating ahead of its financial results announcement, contributing to its decline. Additionally, the ETF went ex-dividend, distributing $0.200474 per share.