The "Fast Money" traders debated whether it is worth getting into the biotechnology sector on Thursday.

The iShares NASDAQ Biotechnology ETF (IBB) was up more than 3 percent on the week so far, but it's down nearly 24 percent this year.

Trader Tim Seymour said that there are some companies in the sector which seem like attractive opportunities because of their relative value. Gilead Sciences, for example, closed at $83.42 on Thursday, down 30 percent from its 52-week closing high of $119.60.

Trader Steve Grasso agreed and pointed to the IBB, which closed at $257.34 on Thursday, down 35 percent from its 52-week closing high of $398. He said the ETF is a great way to "mute your risk." Grasso warned, however, that investors looking for yield should stick with the pharmaceuticals like Pfizer.

Trader Guy Adami agreed, saying politicians haven't hammered on the sector recently because they have "other fish to fry, so you have a window to stay long the IBB right here."

Disclosures:

Tim Seymour

Tim Seymour is long APC, AVP, BAC, BBRY, CLF, DAL, DO, EDC, EWZ, F, FCX, FXI, GM, GOOGL, GRMN, GE, INTC, LQD, M, MCD, MPEL, NKE, RACE, RAI, RH, RL, SINA, T, TWTR, UA, VALE, VZ, XOM. Seymour is short: SPY, XRT. Seymour's firm is long ABX, BABA, BIDU, CLF, EWZ, F, HD, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, YHOO, short HYG, IWM

Karen Finerman

Karen is long BAC, C, DRII, DRII calls, FB, FL, GOOG, GOOGL, JPM, LYV, KORS, KORS, KORS puts, WIFI long call spreads, M, MA, SEDG, SPY puts, URI. Her firm is long ANTM, AAPL, BAC, C, C calls, DRII, DRII calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, PLCE, SPY puts, URI, WIFI, her firm is short IWM, MDY. Karen Finerman is on the board of GrafTech International.

Steve Grasso

Steve Grasso is long BA, CC, EVGN, JCP, KBH, MJNA, MU, OLN, PFE, PHM, T, TWTR, GDX. His kids own EFA, EFG, EWJ, IJR, SPY No Shorts Stuart Frankel & Co Inc. and some of its Partners are long AAPL, AMZN, AVP, CUBA, CVX, FCX, HSPO, IBM, ICE, JCP, LDP, KDUS, KO, MAT, MCD, MJNA, NE, NEM, NXTD, OLN, OXY, RIG, STAG, TAXI, TEX, TITXF, UAL, URI, VALE, WDR, WYNN, ZNGA

Guy Adami

Guy Adami is long CELG, EXAS, GDX, INTC. Guy Adami's wife, Linda Snow, works at Merck.