Biotech Values

[DewDiligence]

ENTA (-4%) seems to be having a delayed reaction to yesterday morning’s release of GILD’s LONESTAR data (#msg-87517178). Although GILD’s PR was issued yesterday at 8:30am ET, the effect on ENTA wasn’t fully grasped, apparently, until GILD’s CC after the close. What’s odd is the timing disparity between ENTA and ABBV: the later was down 4% yesterday and is recovering slightly today.

ENTA is still +35% from its $14 IPO price, but it is now up only 10% from its closing price on 3/21/13, the first day of trading.