Biotech's "great run" will continue despite a bumpy April, one industry analyst said Friday.
The sector's struggles last month can be seen in the iShares Nasdaq Biotechnology ETF, ticker IBB, which fell roughly 2 percent in that span. The drop "wasn't surprising" considering the category's strong performance, and "fundamentals still look really good," said Corey Davis, specialty pharmaceuticals analyst at Canaccord Genuity.
The ETF's 3 percent pop on Friday shows that the sector may keep climbing, he contended.
"I think it's going to continue from here," Davis said in a CNBC "Power Lunch" interview.