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A flurry of deals and data on new drugs has thrust bio-tech into the spotlight. Do these stocks provide a solid bang for the buck?
Shares of Amgen [AMGN
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] surged Monday after the company reported positive trial results for its osteoporosis drug candidate denosumab which one analyst terms "a future blockbuster."
“This could be a multi-million dollar drug,” echoes Pete Najarian on CNBC’s “Closing Bell.” “It’s very encouraging.”
Then after hours Amgen's second quarter profit beat expectations giving shares an additional boost.
When Najarian invests in a biotech one of the key things he looks at is the pipeline. “I talk about it all the time and it’s the catalyst for stocks in the sector.”
If you missed the rip it’s probably a little late for this trade. However, Najarian has 3 others for you. “I like Biogen [BIIB
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],” he says, “as well as Gilead [GILD
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] and Celgene [CELG
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]. Not only do they have promising pipelines but they already have drugs on the market making them money, right now.”
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