U.S. Markets closed

Drug prices may be rising, but you can buy biotech stocks at rock-bottom levels

Michael Brush
Drug prices may be rising, but you can buy biotech stocks at rock-bottom levels

Consider Gilead Sciences (GILD) and Celgene (CELG) for example. At recent prices of $70 and $75, they traded at market values that aren’t too far above the value of their operating businesses, according to discounted cash flow analysis by Jefferies biotech analyst Michael Yee and his team. Then add if they fall back to their “free pipeline” stock prices.