Why Intercept Might Be A Better Bet Than Biogen Right Now
Christian Tharp was recently a guest on #PreMarket Prep, a daily trading idea radio show hosted by Joel Elconin and Dennis Dick.
Biotech Expert and "Five-Star Stock Watch" Author Christian Tharp commented on biotech stocks last Friday.
Tharp noted that Intercept Pharmaceuticals Inc (NASDAQ: ICPT) had spiked higher and that he liked it if it could stay above the $300 level.
Shares of Biogen Idec Inc (NASDAQ: BIIB) had already shot up Friday morning and Tharp was more cautious on the stock as compared to Intercept Pharmaceuticals.
Tharp cautioned that biotech as a group had kept moving higher and that traders "don't want to miss the party," however, Tharp compared the surge to the housing market and felt that "when it ends, it doesn't end well."
On Monday, Intercept Pharmaceuticals closed at $269.82, down 7.27 percent.
Biogen also closed down at $463.73, a decline of 2.57 percent.
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