BOSTON ( TheStreet) -- Checking in on the "Biotech Bubble: Yeah or Nay?" debate: Before we start, let's agree the biotech sector is still having an unbelievable year. IBB data by YCharts But biotech stocks have underperformed the broader market in the past month. IBB data by YCharts Momentum-driven biotech stocks -- mostly small- and mid-cap -- have been hit with some serious selling over the past month. These were some of the sector's highest flyers, but not lately. I'm talking about stocks like: Celldex Therapeutics ( CLDX) : CLDX data by YCharts Clovis Oncology ( CLVS): ^NBI data by YCharts and Immunomedics ( IMMU): IMMU data by YCharts 2013 is shaping up to be a record year for biotech IPOs, but not all of the stellar debuts have staying power. Bluebird Bio ( BLUE): BLUE data by YCharts Alcobra Pharma ( ADHD): ADHD data by YCharts Onconova Therapeutics ( ONTX): ONTX data by YCharts Stemline Therapeutics ( STML): STML data by YCharts Some biotech IPOs keep moving higher, like... Receptos ( RCPT) RCPT data by YCharts and Ambit BioSciences ( AMBI): AMBI data by YCharts Big-cap biotech stocks are still performing strongly. Is there an investor flight to quality companies like Gilead Sciences ( GILD), Amgen ( AMGN), Biogen Idec ( BIIB) and Celgene ( CELG)? GILD data by YCharts It's definitely NOT been a hard-knock life for orphan drug stocks in 2013: AEGR data by YCharts But investors have sent orphans begging in the past month: AEGR data by YCharts -- Reported by Adam Feuerstein in Boston.Follow @AdamFeuerstein
At a time when healthcare investors seem especially primed for big, transformative biotech M&A, a deal in which Celgene acquires Biogen would be smart, profitable, opportunistic and certainly attention grabbing.