Modest biotech rally ends bumpy week

Biotech stocks recovered some of the week's losses Friday, ending a turbulent week that included a three-day sell-off in which some investors feared companies in the sector were overvalued (see BioCentury Extra, March 25).

The BioCentury 100 gained 149.21 (2.1%) to 7,101.60 on Friday, with gainers outnumbering decliners 85 to 14 to finish the week off 5.6%. The index, which was essentially flat on Thursday, had lost 7.6% over the three days ending Wednesday. ...