Best And Worst Performing Biotech Stocks In the Second Quarter
BOSTON (
) -- Biotech investors will be happy with the chart above as the sector's benchmark index continues to outperform the broader market in the second quarter.
The iShares Nasdaq Biotechnology Index Fund closed the June quarter up 8.9 percent compared to a 2.8 percent rise in the S&P 500. The biotech index has been on a consistent downtrend since the middle of May, which bears watching.
Here are the five top-performing bio-pharma stocks in the second quarter:
No. 5:
Vanda Pharmaceuticals
(VNDA) - Get Report
data by
Vanda is developing tasimelteon as a treatment for a rare sleep disorder which affects blind people. Vanda shares fell in June after
questions were raised about the company's clinical development of tasimelteon
, raising the risk that the drug would be rejected by FDA.
No. 4:
Stemline Therapeutics
(STML) - Get Report
data by
Stemline is developing drugs which target cancer stem cells. The company's shares rose following the presentation of clinical data at the American Society of Clinical Oncology annual meeting in early June.
No. 3:
Immunomedics
(IMMU) - Get Report
data by
Immunomedics will be presenting results from a phase I study of the experimental radio-labeled monoclonal antibody Clivatuzumab tetraxetan at a medical meeting, July 3-6.
No. 2:
Acadia Pharmaceuticals
(ACAD) - Get Report
data by
Acadia continues to be one of the strongest-performing stocks in the biotech sector this year, supported by investor excitement for the company's Parkinson's psychosis drug pimavanserin.
No. 1:
Clovis Oncology
(ACAD) - Get Report
data by
Clovis is not only the best-performing stock in the second quarter, but it's also
so far. Why? The experimental
.
Not all bio-pharma stocks enjoyed success in the second quarter. The worst-performing stocks for the June quarter were:
No. 5:
Cardium Therapeutics
(CXM)
-56%
No. 4:
Aveo Pharmaceuticals
(AVEO) - Get Report
-66%
No. 3:
Infinity Pharmaceuticals
(INFI) - Get Report
-67%
No. 2:
Echo Therapeutics
(ECTE)
-68%
No. 1:
GenVec
(GNVC)
: -75%
-- Reported by Adam Feuerstein in Boston.
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Adam Feuerstein writes regularly for TheStreet. In keeping with company editorial policy, he doesn't own or short individual stocks, although he owns stock in TheStreet. He also doesn't invest in hedge funds or other private investment partnerships. Feuerstein appreciates your feedback;
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