In today’s volatile and often downwards market, investors are looking for stocks that are defensive, that will hold their own at the beginning of a down market until they can be sold off. However, if the market goes up these stocks will also go up. David Hefty, CEO of Hefty Wealth Partners, commented on the Yahoo Finance Breakout program, that certain health sector stocks are defensive acquisitions in volatile markets. He mentioned Celgene Corporation (CELG) which is a drug company that mainly develops and produces cancer drugs.
Over the last two years the stock has fluctuated between fifty and sixty five and it is currently selling at $66 per share. It is presently outdoing the S&P 500. It is partnering with Agios in developing a new type of drug to starve cancer cells to death. This may be a very important development. The larger drug companies such as are also trying to develop this type of drug.
Some of the management team are: Jacqualyn A. Fouse, Senior V.P. and CFO; and Perry Karsen, COO.
As with all investments, purchasers should perform due dilligence, checking the stock thoroughly before buying and thereafter monitoring it daily.
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