Thursday, October 13, 2011

Overbought Biotech Still a Good Buy

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tdp2664 InvestorPlace Celgene Corp. ( NASDAQ : CELG ) – This company is considered by S&P to have "the brightest growth prospects among large-cap biotech companies." Its impressive performance was led by its cancer products Revlimid and Vidaza. The company also has a number of other products in the pipeline awaiting FDA approval. Earnings are expected to reach $3.20 in 2011 and $3.80 in 2012, and gross margins are expected to maintain 93%. Analysts target the stock at $75 to $85 within 12 months.



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