Analyst Explains Why He’s Investing in This Top Biotech ETF

We recently published Trending Analyst Calls: 10 Stocks to Buy and Sell. Biotechnology ETF (NASDAQ:IBB) is one of the trending analyst calls.

Jason Snipe, Founder and CIO of Odyssey Capital Advisors, said in a recent program on CNBC that he’s investing in IBB. Here’s why:

“But this is a subsector that’s been under the mat for quite some time. So it’s nice to see some price action there. So couple things for me. I think one, big pharma, they really need to rebuild their pipeline. So I think there’s going to be some M&A operating in the biotech space and I think that’s going to benefit the iShares Biotechnology ETF (NASDAQ:IBB) and especially some of those smaller names. And I think part of it is the macro deal flow will kind of come back online in that space and I just feel like the IBB will be representative of what’s going to happen.”

Analyst Explains Why He’s Investing in This Top Biotech ETF

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Disclosure: None. This article is originally published at Insider Monkey.