Investors in biotech stocks appear to be happy with a Trump win and Mizuho's senior biotech analyst says companies in the group could continue to climb into 2017. Syed says he likes the sector for three reasons: there is now clarity on who will be the next president, there could be more M&A and potentially positive phase 3 clinical data. One big unknown, according to Syed, is Americans still don't know what Trump's policies around healthcare so there is still some uncertainty. Another unknown that's particularly important is who will be the next commissioner of the FDA. Syed cautions that investors likely will not see large scale M&A in the sector because two of the larger players, Amgen (AMGN - Get Report) and Gilead (GILD - Get Report) which are likely viewed to each be sitting on more than $25 billion in cash, have most of those funds overseas. "When you're talking about cash that's in the U.S., it's still only about $2 to $3 billion. Gilead has about $6 billion in the U.S., the question is: what can you buy for $2, or $3 or $6 billion," says Syed. Mizuho has a BUY rating on Amgen, Gilead and Celgene (CELG - Get Report) and a NEUTRAL on Biogen (BIIB - Get Report) .