On March 20th 2015, I shared my 2 best picks (and largest positions) in the biotech sector (1 in large cap & 1 in speculative): i.e. Celgene & Receptos.
Yesterday CELG bought out RCPT for a price that I’d call is ‘throw-away cheap’. CELG is up almost 9% today and RCPT is up ~50% from when I recommended.
If you missed it, CELG also announced its preliminary Q2 results, with a beat on both top & bottom line; along with raising its full year guidance. At hardly 21-22x forward P/E (with persistent 25% growth - comes with similar top line growth) and with new potential billion dollar drugs in late stage trials, we bought some more at 132 today.
With our 2015 end target of $158, I’d say..add on!
P.S.: As always, you can get our real time alerts on our moves by subscribing at: http://goo.gl/thTtvo
Select slides from Celgene's presentation: