By: Adam Feuerstein | 01/31/14 - 02:12 PM ESTOne month into 2014 and this is where the biotech sector stands. Pretty darn good:
The biggest surprise so far this year (at least to me) -- Celgene is stinking up the joint. Last years top-performing, large-cap biotech stock is this years worst by a wide margin.
CELG data by YCharts
What is ailing Celgene? I haven't heard any specific, other than investors may be rotating out in favor of Gilead, Biogen and Alexion Pharmaceuticals (ALXN) because they provide higher earnings growth potential in the short term.
If you know of any other reasons for Celgene's weakness, drop me a comment below.
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