The iShares Nasdaq Biotechnology ETF (IBB) - Get Report is down 13% thus far in 2016, but investors should not throw in the towel on biotech stars Amgen (AMGN) - Get Report , Gilead (GILD) - Get Report , bluebird (BLUE) - Get Report and Bellicum (BLCM) - Get Report , said Brad Loncar, CEO of Loncar Investments. Shares of Amgen are up 5.4% thus far in 2016, but fell this week after its Phase III Clarion trial failed to meet its primary endpoint. Gilead shares have dropped 20% so far in 2016. The stock was hit this week after Leerink reduced its rating on the stock to MARKET PERFORM from OUTPERFORM. Bluebird bio shares are up a healthy 16% year-to-date, but have soared 43% in the past month as the immunotherapy specialist is rumored to be a target for Japanese drug maker Takeda Pharmaceutical (TKPYY) . Similarly, Loncar expects Bellicum Pharmaceuticals, another immunotherapy outfit, to have a lot to say at the ASH Conference. Bellicum has seen its shares recover to $20 from less than $8 this past March.