The No. 5 performer in the top S&P stocks of 2011 could see more growth ahead, one “Fast Money” pro said Wednesday.
“Fast Money” pro Pete Najarian was positive on Biogen Idec.
“This is a company that has done nothing but perform and do everything right,” he said.
Biogen Idec shares rose more than 64 percent year to date and traded in the $110 range for the day. Its 52-week high was $120.66 and its low was $64.28, with EPS of $4.80.
Najarian said the sector is different than the high-flying days of the past.
“Remember, biotech’s not the old biotech everybody used to focus on, where they were trading at incredible multiples,” he said. “These are companies that are mature companies that trade much more like the big pharma names as well.”
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Trader disclosure: On Dec. 28, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders: Najarian is long AAPL; Najarian is long C; Najarian is long HPQ; Najarian is long MT; Najarian is long PFE; Najarian is long LLY; Najarian is long MRK; Najarian is long MSFT; Najarian is long YHOO; Cortes is long K; Cortes is short EUR; Cortes is short GBP; Cortes is short Crude; Cortes is short Gold; Cortes is short XRT; Cortes is short IYT; Cortes is short CSX; Dicker owns GM; Dicker owns RIG; Dicker owns NBL
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