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Robyn Karnauskas of Deutsche Bank
spoke on CNBC's Fast Money about stocks she likes in the biotech space. She said that the sector has above average growth, three percent more than the S&P 500, and the group is trading only with a small premium over the S&P.
Karnauskas is bullish on the large cap names and she sees current correction as the buying opportunity.
Gilead SciencesGILD is one of the stocks she likes and although it gained 60 percent this year, she expects it to gain 30 to 50 percent next year. One of the reasons for her expectations is $15 billion of cash that the company will have next year and that will probably be used for its pipeline.
has a platform that makes antibodies very quickly and the market is not giving enough credit to this company, thinks Robyn Karnauskas. She added that the stock is going to trade higher because the new drug is going to be launched next year and the pricing and the market opportunity for it has been modeled to low.
CelgeneCELG is another stock in the space, Robyn Karnauskas likes. She explained that investors will find out if concerns over Revlimid patent are realistic and once that is revealed the big overhang is going to be removed. When Revlimid gets approved in Europe traders could see an expansion in duration of therapy for the drug, which would be positive for the earnings.
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