Biotech stocks are once again lower after leading Wednesday’s market sell-off as investors jump out of the sector as fast as they can. Andrew McDonald is the co-portfolio manager of BioShares exchange traded funds and says now is a buying opportunity. McDonald says to take advantage of pullbacks to get into a sector that has been rewarding investors handsomely in recent months saying ‘valuations have increased and in certain speculative stocks, valuations are excessive but current run in market isn’t a bubble.’ A few of McDonald’s favorite picks in biotech include ZS Pharma (ZSPH), Gilead Sciences (GILD) and Anacor Pharmaceuticals (ANAC).
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