Massachusetts Pharma (and Guns) Fared Well This Year in the Stock Market
Planning to invest in some stocks next year, but want to invest local?
The Boston Business Journal has released a list of which Massachusetts companies did best in the stock market in 2015, and it’s not too shocking: pharma and biotechs both make up a significant percentage of the top 20 list, with Burlington-based Dyax grabbing the number one spot. On the more surprising end of the spectrum: Springfield-based gun manufacturer Smith & Wesson had the second highest performing stocks.
Smith & Wesson’s stock price has more than doubled this year. In a recent earnings call, the BBJ reported that Smith & Wesson’s CEO, P. James Debney, said more women and city dwellers are interested in gun use, as well as people participating in sports involving guns. Debney said the company’s research shows “that in the long term, our market is growing.”
Dyax, a drugmaker focused on rare diseases, was followed by biopharmaceutical company Sarepta and medical device manufacturer Abiomed.
Smith & Wesson shows no signs of slowing down, either: gun sales spiked last week after President Barack Obama’s primetime address regarding terrorists threats from ISIS and other organizations.
“We also need to make it harder for people to buy powerful assault weapons like the ones that were used in San Bernardino,” he said last week.
Boston’s mini Silicon Valley scene continues to thrive. Top tech earners included e-commerce home goods seller Wayfair at number 4, while Hubspot (recently rated one of the best places to work in Mass.) came in at number 14.