Allianz's Analyst Likes Biogen Idec Inc, Celgene Corporation & Gilead
John Schroer of Allianz Global Investors spoke on CNBC's Fast Money about the biotech stocks he likes.
He said that his first pick would be Biogen Idec Inc (NASDAQ: BIIB), which is a leading company in the multiple sclerosis space. He thinks that the company will have 20 to 25 percent earnings growth over the next three years, and it has a valuation of 25 times earnings.
The biotech stock sold off on Friday on the news about potential pricing pressure on Gilead's (NASDAQ: GILD) hepatitis C medicine. Schroer thinks that Gilead is a great stock, trading at 11 times earnings, with a strong growth potential that could easily trade at $200 billion market capitalization.
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