Biotech companies raised $4.7 billion globally from 68 IPOs during the first half of 2014, and investor appetite will remain strong the rest of the year, said Greg Sarian, Partner at HighTower in Philadelphia. Sarian said there are 41 companies that have publicly filed to complete IPOs in the coming months and there remains a high level of interest in specialty biotech given the ongoing stream of M&A announcements. Furthermore, Sarian said that Federal Reserve Chair Janet Yellen's comment about stretched valuations in biotech stocks can be countered by strong Q2 earnings performances.

More from Video

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Jim Cramer: The 10-Year Yield Could Go to 2.75%

Jim Cramer: The 10-Year Yield Could Go to 2.75%

Elon Musk's Twitter Tirade Is the Dumbest Thing on Wall Street

Elon Musk's Twitter Tirade Is the Dumbest Thing on Wall Street

Replay: Jim Cramer on the Markets, 10-Year Yield, Oil Prices and Foot Locker

Replay: Jim Cramer on the Markets, 10-Year Yield, Oil Prices and Foot Locker

Video: You Could Live in a Ritz-Carlton or St. Regis Home

Video: You Could Live in a Ritz-Carlton or St. Regis Home