Richard Peterson, senior director of global markets intelligence with S&P Capital IQ, told CNBC's "Squawk on the Street" on Monday that things are different this time around.
"Back in the heyday, many of the deals had no revenue [potential], let alone earnings," he said. "There were 46 tech IPOs priced in 2000, and last year there were 34."
He also noted the good story in health care mergers and acquisitions activity, which he expects to increase over the coming years as the population ages.
Jason Kolbert, Maxim biotechnology analyst, told CNBC's "Squawk Alley" Monday that fears of a biotech bubble aren't that scary.
"The market hates uncertainty, but what do we have today in biotech? More visibility than we've ever had before," he said.
Kolbert attributes his confidence to a lower clinical trial failure rate as well we a higher FDA approval rate.
"I think the odds are going up. We're gambling a little bit, but we understand the science at a level that we've never understood it before."