Market Overview

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.

Celgene Corporation (NASDAQ: CELG) has also found its place on the list of stocks in the biotech space that John Schroer would buy. Celgene fell 0.15 percent on Friday, and it closed at $93.79.

Posted-In: Allianz Global Investors Biotech Stocks CNBC John SchroerMedia


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