Ebb & Flow
Wednesday's luncheon at the JPMorgan 25th Annual Healthcare Conference took a different tack on a panel discussion. Instead of the firm's analysts answering questions, the 1,000-member audience was asked to respond to a battery of topics via wireless voting - think American Idol. Almost half the audience worked at hedge funds, and the good news is that biotech was voted the best healthcare sector for 2007. Indeed, 37% of the votes were cast for biotech, with specialty pharma coming in second with 23% of the votes.
Other votes on the biotech front included 29% of the audience thinking that Genentech (DNA) will be the best performing big biotech this year. Gilead (GILD) came in second, with 19%, and Celgene (CELG) and Amgen (AMGN) tied for third, with a 15% share each. ...