Allianz's Analyst Likes Biogen, Celgene & 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 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 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. Celgene Corporation CELG has also found its place on the list of stocks in the biotech space that John Schroer would buy. Celgene fell 0.15% on Friday and it closed at $93.79.
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Posted In: CNBCMediaAllianz Global InvestorsBiotech StocksJohn Schroer
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