If you look at the S 500, which is up more than 18% this year, or the Nasdaq Composite, which is up more than 34% in 2023, it appears the markets are booming. If you look specifically at biotech stocks, it appears they are still caught up in a downturn. The iShares Biotechnology ETF is down more than 3% so far in 2023, and the SPDR S Biotech EFT is down more than 5%. The two ETFs reflect negative market sentiment toward biotech stocks, in general, this year.

However, there are specific biotech stocks that are defying that trend and apparently thriving. 

Regeneron Pharmaceuticals (NASDAQ: REGN) and Alkermes (NASDAQ: ALKS) stocks are both trading up more than 7% so far in 2023, while Vertex Pharmaceuticals (NASDAQ: VRTX) is up more than 19% in 2023. On top of that, all three biotech companies saw revenue and earnings per share (EPS) rise year over year in the second quarter.

Continue reading

Source Fool.com