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Goldman's 7 Favorite Biotech Ideas For 2016

bluebird bio NASDAQ:BLUE, Amgen Inc. NASDAQ:AMGN - Goldman's 7 Favorite Biotech Ideas For 2016

Goldman Sachs highlighted seven favorite stocks in the biotech sector for the second half of the current year. These stocks offer upside potential between 13 percent and 175 percent.

Bluebird bio Inc BLUE 4.26% provides the biggest upside potential, with 175 percent, whereas Agilent Technologies Inc A 0.34% offered the least upside potential of 13 percent. Amgen, Inc. AMGN 0.12% found a place on the America's Conviction Buy list.

The following shares are Goldman's top picks in the sector with their attached price tags:

  • Agilent: Goldman Sachs kept a price objective of $53 based on conservative outlook along with enhanced dynamics on end market boosting EPS estimates.
  • Amgen: The brokerage has $204 target price based on fresh product cycles and sees internal biosimilars replacing any loss of revenue due to competition.
  • Bluebird: Price tag of $135. The company is focused on rare diseases apart from oncology reaching key value-inflection points.

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DateFirmActionFromTo
Jun 2016Cantor FitzgeraldInitiates Coverage onHold
Mar 2016BTIG ResearchInitiates Coverage onBuy
Feb 2016Leerink SwannInitiates Coverage onOutperform

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