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Genzyme Could Go To $80, Says Analyst

If Genzyme is in play, the top biotech analyst on the Street thinks the stock could go to $80.

As you might remember, a flurry of reports hit the Street last week suggesting drug giant Sanofi-Aventis was sounding out Genzyme in a hunt for a large acquisition.

But we know that speculation is more often wrong that it's right. So for insights we turned to the Street’s #1 ranked analyst -- ISI analyst Dr. Mark Schoenebaum. He tells the desk, "It actually makes sense!"

Here's why.

Genzyme is run by its founding CEO. He’s been CEO for 25 years. He’s 66 years old. Also the company has been having manufacturing problems and there are activists on the board.

"I’m not sure he needs that kind of pain in the neck," says Schoenebaum. "In my mind it gives the CEO a graceful exit."

But is an announcement imminent? Well, that all depends on your timeframe.

"I think we’re months away not days or weeks, but I think it’s likely to happen," Schoenebaum says.

Find out what Schoenebaum says about other stocks in this space. Watch the video now!


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Trader disclosure: On July 27, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Adami owns (AGU), (BTU), (NUE), (C), (GS), (INTC), (MSFT); Adami’s wife works at Merck; Grasso owns (ASTM), (ABK), (BAC), (BA), (BGP), (C), (CSCO), (DYN), (JPM), (LPX), (MO), (NDAQ), (PFE), (PRST); Kelly owns (BP) puts; Jon Najarian owns (AAPL) call spreads; Jon Najarian is long and short (BIIB) calls; Jon Najarian is long and short (MSFT) calls; Jon Najarian owns (SNDK) and is short calls; Terranova owns (AMZN), (EMC), (CREE), (BRCM), (LRCX), (COP), (AXP), (BMO), (CSX), (PEP), (CVS), (GS), (PCP), (C), (APA), (FCX), (JOYG), (MMM), (MOS), (UAUA), (WYNN), (GOOG), (BBY), (SU), (KOL), (XBI), (SWN), (BAX), (JNPR); Terranova is short (GLD)

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