Biotech stocks are booming again.
The iShares Nasdaq Biotechnology ETF (IBB) - Get Report closed at 272.63 Monday, less than one point below the year (and all-time) closing high reached on Feb. 25. The sector's steep sell off in March and April are a distant memory. Roche's (RHHBY) acquisition of InterMune (ITMN) has put some M&A oomph into biotech stocks.
As you'd expect, biotech stocks are out-performing the S&P 500.
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