Jefferies LLC analyst Michael Yee on Monday, July 10, initiated coverage on a dozen biotech firms and named Celgene Corp. , Vertex Pharmaceuticals Inc., Spark Therapeutics Inc., Prothena Corp. plc and Intercept Pharmaceuticals Inc. his best five stock ideas.
In the large-cap realm, Celgene continues to be among the best growth stories, said Yee, who has a $160 price target. He noted that the stock has a cheap 2018 price-to-earnings valuation of 14 times, which stands well below the historical range.
