(IDIX) Take Advantage of the Slaughter in Biotech

At the J.P. Morgan Healthcare Conference in San Francisco three weeks ago, it was all rainbows and unicorns when it came to the biotech sector. At that point, the sector had climbed 50% over the previous year and 140% since the recent low in November 2011. Biotech was white-hot. And then the conference ended and seemingly everyone sold all their shares. At least that’s the way it feels. The Amex Biotech Index (NYSE: BTK) fell 8% in less than two weeks. The smaller cap names got crushed. In my Healthcare Profits Alert service, we got stopped out of two of our small cap names: Idenix Pharmaceuticals (Nasdaq: IDIX) and Dynavax Technologies (Nasdaq: DVAX), taking profits of 52% and 21%, respectively. Subscribers who bought calls in Idenix made 150% in about […]