Morning Joe-We’re Halfway There & Early Biotech Action


Yellen getting ready for today’s rate decision

One element of today’s tomfoolery is done.  The BOJ actually left things alone, but their markets are taking it well as the Nikkei was up over 300 points overnight.  The Nikkei banks index is up almost 7%.

That leaves the Fed later today to do their thing.  Futures are up here as well as in Europe.

There is some good news on our portfolio names this morning. EBIO +20% this morning after announcing an acquisition.

PBYI was upgraded to buy witha target of 88 at Stifel +4.0% this morning.

CLVS is gapping up abut 10% after a big day yesterday as Credit Suisse upgraded the name with a target of 41 from 19 on the potential for CLVS to be a takeout target for a global pharma company, Japanese pharma, or biotech company.  They value it at 55 on a takeover basis.

EXEL is +6.0% in pre market.

IONS is flat after a +7.0% move yesterday. CHRS is flat, JAZZ looks higher by about 4 bucks here, but volume in pre market is light, so I don’t know if that’s too dependable.

Have a safe and profitable day.


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