Why Celgene, Fiserv & Travelers Should Be Bought
Celgene shares are off 16 percent year-to-date and last week's weak guidance did not enthuse the biotech giant's backers.
Celgene (CELG) - Get Report shares are down 16 percent year-to-date and last week's weak guidance did not enthuse the biotech giant's backers. Nevertheless, Patrick Martin, managing director at Martin Investments, said Celgene is well situated for the long run. 'Celgene has a great pipeline and will do well in the long term,' said Martin. 'They have 20 drugs in late stage trials.' The biopharmaceutical company reported 2016 first quarter adjusted earnings of $1.32 a share, beating analysts' estimates. But revenue of $2.51 billion missed forecasts. Martin is also bullish on Fiserv (FISV) - Get Report , up eight percent so far in 2016, saying the financial technology provider is benefiting from the growth in internet banking.
