After dropping more than 20% in 2016, the iShares Nasdaq Biotechnology ETF (IBB) is up about 7% year-to-date. The fund has seen more than double the volatility of the S&P 500 with several moves between $250 and $290 over the past 12 months.I’m putting a $300 price target on IBB by the end of February, which would represent a 5% gain from current levels.Catalysts: President Trump’s desire for quicker and less costly drug approvals.Merger & acquisition potential: Amgen (AMGN) looking to buy, Acadia Pharmaceuticals (ACAD) as a target.Headwinds: The push for lower drug prices.Continued drag from Gilead’s (GILD) guidance?From a technical standpoint, the IBB chart is showing a wedge pattern with the stock sitting on the top end of it.A breakthrough of that top line could help push the price towards $300. If it holds as a resistance level, it could also mean a move back into the $270s.I’m putting more weight at this point into comments coming from the White House. I think focus on pricing will take a back seat to the future of the ACA, while Trump’s statements regarding a faster-moving FDA will be the boost.What do you think? Will biotechs post further gains in February? Vote or post in the comments below. Requires signing in. That’s easy: Just use your Facebook, Twitter, LinkedIn or StockTwits credentials.