Two Biotech Stocks Poised for Success

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 (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 (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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