The biotech meltdown has continued since my last post, mostly due to downgrades of certain stocks, but in the case of Illumina (ILMN), because of an earnings pre-announcement today. I did not buy, but ILMN is getting to a tempting level.
I've been buying selectively, but looked at my Openicon positions page today and noted it is sadly out of date. So I fixed it up. Click on the link and you can see what I currently own with further links to my notes and Seeking Alpha articles.
My only new company is Alnylam Pharmaceuticals (ALNY) which I bought today for $75.13 per share. This is a mostly early-clinical stage company working with RNAi therapy. I've been watching it some time, but too much profit was built into the stock price for me. It could still go lower, especially if negative clinical results come in, but I was comfortable, even pleased, at the price I bought at. It is a stock for investors with a 3 to 10 year time horizon.
I also added to three positions I already had, again because the price was right by my lights:
Gilead Sciences (GILD) on September 28
Mylan (MYL) on September 28
Merrimack (MACK) on October 1.
I am looking forward to Q3 earnings calls.
Tuesday, October 6, 2015
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