Biotech earnings arrive after dreadful 6 months, but upcoming readouts offer hope to analysts

With signs that biotech’s nosedive may be starting to level off, will the sector’s big players use their second-quarter earnings results to point to green shoots?

A 34% drop in the XBI biotech index in the first half of the year provided a gloomy backdrop to a period of layoffs and cutbacks, but analysts at Berenberg noted that the same index has rebounded 26% in the past month—even overperforming the S&P 500 by 4%.