WASHINGTON (dpa-AFX) - Biotechnology stocks have shown a strong move to the upside during trading on Thursday, driving the NYSE Arca Biotechnology Index up by 2.2 percent.
The biotechnology index has bounced back and forth between gains and losses over the past few sessions, edging modestly lower on Wednesday following the uptick seen on Tuesday.
Agios Pharmaceuticals (AGIO), Alnylam Pharmaceuticals (ALNY) and Bio-Techne (TECH) are turning in some of the sector's best performances on the day.
The strength in the biotech sector comes amid a broad based rally on Wall Street, with the Dow and the S&P 500 reaching new record intraday highs.
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