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Two Biotech Stocks Poised for Success

|Includes: Celgene Corporation (CELG), TMO
The Biotech industry has become a highly profitable, growing rapidly over the past few years. Surveying the industry myself, I came across two Biotech stock picks worth investing in


Celgene (NASDAQ:CELG)
 is most notably known for developing therapies for cancer and other immune-inflammatory diseases. Over the past several years, sales have grown over 40% annually. Unfortunately this growth hasn’t translated into huge gains in the market as the stock has down little to nothing. After a stellar 1st quarter where profit increased 44% and revenue 31%, CELG is poised to continue the strong run. They report earnings on July 28 and I fully expect them to beat expectations. Long-term CELG is a great bet and I believe it will rise to around $75.

 

Life Technologies (NASDAQ:LIFE) just like CELG, are on of the top Biotech companies. LIFE designs and sells the tools and instruments researchers use for drug discovery. Again like CELG revenue has steadily increased +40% over the past few years. With revenues expected to increase after a strong 1st quarter I think it could be an interesting play as they head into earnings this week. With strong analyst coverage I believe this stock could easily rise to $60.

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Disclosure: "Long CELG"