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Pro Analysis

Jon Najarian, up 15% in '16, buys risky biotech

Jon Najarian
Scott Mlyn | CNBC
Jon Najarian

CNBC "Halftime Report" trader Jon Najarian bought Merrimack Pharmaceuticals for his model portfolio.

His portfolio is now up 15 percent year to date, putting him in third place in the trading contest.

Here is why he bought the volatile, small cap biotech stock, which is off nearly 30 percent this year.