Guy A Fast Money "Celgene to me STILL AT CURRENT LEVELS THE BEST TECH PLAY OUT THERE"
My quickly typed transcript of Melissa Lee & Guy Adami's discussion of NASDAQ 4000 - including Guy A "so I think Celgene to me STILL AT CURRENT LEVELS THE BEST TECH PLAY OUT THERE"
Fast Money lead story NASDAQ hitting 4000 today and what drove the NASDAQ to those levels this yr.
Melissa Lee: Lets get right to our stop story of the day – that’s the Nasdaq crossing 4000 intraday , a key level but of course far from the all time high of 5132.5 Now the key hear is understanding what has driven the NASDAQ…and it has not been tech stocks…no its not been tech stocks its been largely BIOtech!
Guy Adami: Right and that’s where…you said “what’s your best tech play?” and my best tech play…you have to put a “bio” in front of it and it still remains Celgene….because there have been a few headlines….that could have been construed as negative that could have taken a name like Celgene down a lot more than it did and it did not….and here we are at $164 - another all time high today …they throw off cash….they have a balance sheet that’s as good if not better than the likes of Pfizer…and other big cap pharma…so I think Celgene to me STILL AT CURRENT LEVELS THE BEST TECH PLAY OUT THERE.
Melissa goes over the six NASDAQ stocks that have 100%+ gains year to date (including CELG +109% and GILD +104%) and says….”we took a look at the six NASDAQ stocks that have posted more than 100% gains year to date, so were doubles year to date, three of those six stocks were biotech stocks.
When you think about it the company is only selling at about 27X current earnings and 22.5X next years average analyst's estimate. The growth rate is 21 - 22% this year and into next. Does not look expensive form PE perspective. Do not see another double in the near future, but good solid growth. The great pipeline could also surprise us somewhere along the line. I also like and hold REGN.