Cowen names its top biotech stocks with biggest upside to buy in 2014


Better late than never, Cowen analysts seem to say as they recommend their top biotech names even after four straight years of sector outperformance against the S&P 500.

Amgen (AMGN) is one of the big-cap biotechs Cowen thinks will handily beat this year’s earnings estimates.

Biogen (BIIB) remains the top name in class, and the firm thinks the stock is not overvalued at 20x 2015 earnings; Cowen also believes BIIB can beat this year’s earnings expectations.

Nektar Therapeutics (NKTR) is a top name to buy due to its impressive clinical pipeline and list of big pharma partners; despite having eight late-stage candidates, NKTR’s market cap is just $1.3B.

Also named: ACOR, BMRN, CELG, CMRX, DVAX, IMGN, PTLA, VVUS.

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