Biotech Bubble Valuations From Sam Islay
Editor's note: A previous version of this story said ZIOPHARM Oncology Inc. (NASDAQ: ZIOP) was among Isaly's picks. Isaly said the company "has done great this year," but he is looking at other stocks.
OrbiMed Advisors managing partner Sam Isaly told CNBC that biotech could be volatile, however, the valuations were "sensible."
Isaly's top picks included:
Regeneron Pharmaceuticals Inc (NASDAQ: REGN)
Actelion Ltd (OTC: ALIOF)
Molina Healthcare, Inc. (NYSE: MOH)
Health Net, Inc. (NYSE: HNT)
Isaly said that the performance of the industry had been "great" over the past three to five years and that explosive growth in new products was expected to drive biotech stocks higher.
The iShares NASDAQ Biotechnology Index (ETF) (NASDAQ: IBB) had gained nearly 50 percent over the past 12 months and closed at $340.08 Wednesday, down 0.98 percent.
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|Aug 2015||BMO Capital||Maintains||Market Perform|
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