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Buy Celgene: Analyst

Celgene was on the move in today's session following an upgrade to buy from neutral at BTIG.

The firm believes that Celgene is better positioned than many of its peers in the biotech space, and also that strong future sales will push the New Jersey-based company higher.

BTIG has a $138 price target on Celgene, which is a 19% upside from current levels.

Dane Leone – the analyst behind the call– joined the "Halftime Report" to discuss why this stock should be on your buy list.

Biotech has had a rough run for the past few decades, but Leone thinks the sector is now in the early stages of recovery.

And he believes Celgene is well-positioned to take advantage of the biotech bounce.

"We think Celgene is going to clearly be the leader in the sector in the next 12 months," he said on the "Halftime Report."