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That was one crazy first quarter for the biotech sector. Here's where biotech stocks stand on April Fool's Day:

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If you're curious (and I was) about how the biotech ETFs performed during the first quarter of 2014, the   (XBI) - Get SPDR S&P BIOTECH ETF Report (SPDR S&P Biotech ETF) was up 9.4%, and the (IBB) - Get iShares NASDAQ Biotechnology ETF Report (iShares Nasdaq Biotechnology ETF) rose 4% versus a 1% gain for the  (SPY) - Get SPDR S&P 500 ETF Trust Report (SPDR S&P 500 ETF). 

No wonder the biotech bubble debate rages on. Watch that downtrend since the middle of March. 

Here are the top-performing biotech and drugs stocks in the first quarter:

5. Anthera Pharmaceuticals (ANTH) +183%
4. Recro Pharma (REPH) - Get Recro Pharma, Inc. Report+217%
3. Capnia (CAPN) +329%
2. Cormedix (CRMD) - Get CorMedix Inc. Report +415%
1. Aoxing Pharmaceutical (AXN) +432%

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It says something about the current state of the biotech sector that I only know one of these companies -- Anthera -- well. I've heard a tiny bit about a second, Cormedix. The other three top-performers are total blanks. Bubble on! 

Better-known stocks with stock prices that doubled or more in the first quarter include: Trillium Therapeutics (TRIL) - Get Trillium Therapeutics Inc. Report, Esperion Therapeutics (ESPR) - Get Esperion Therapeutics, Inc. Reportand Foundation Medicine (FMI) - Get Foundation Medicine, Inc. Report

Here's a look at the first-quarter performance of the large-cap biotech stocks:

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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; click here to send him an email.