Biotech Stocks Underperforming? These Charts Says Otherwise

Biotech stocks are having a big day Friday, helping to almost erase the sector's under-performance in the fourth quarter.

Take a look at where we stand:

 

IBB Chart
IBB data by YCharts

Here's the same chart two weeks ago:

 

IBB Chart
IBB data by YCharts

Why the big rebound? Biogen Idec  (BIIB) and Gilead Sciences  (GILD) are certainly helping. Both received positive news from European regulators Friday, which seems to have triggered another round of buying.

 

GILD Chart
GILD data by YCharts

Europe was also very good to Ariad Pharmaceuticals (ARIA) today. The stock is Friday's top performer:

ARIA Chart
ARIA data by YCharts

-- 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; click here to send him an email.

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