The stage is set for the 56th American Society of Hematology (ASH) conference from Dec 6-9 at San Francisco. Plenty of pharmaceutical and biotech companies will present its data on new progressions in hematology and cancer treatments. Two big bio-tech names that might need some attention from investors are Celgene Corporation (NASDAQ:CELG) and Agios Pharmaceutical Inc (NASDAQ:AGIO). CNBC’s Meg Tirrell and Fast Money Traders, Pete Najarian and Guy Adami talked on CNBC about their picks during the conference.
Tirrell pointed out that a lot of small biotech firms will be moving out of the conference in this year and one of the big names to watch out in the ongoing conference is Celgene Corporation (NASDAQ:CELG). She mentioned that Celgene has been very big in cancer treatment for many years and in 2014, they have partnered with a lot of small biotech and these small biotech companies will be presenting their data in the conference.
Tirrell added that a small biotech name to watch out in the ongoing conference is Agios Pharmaceutical Inc (NASDAQ:AGIO). She mentioned that this company has grown significantly in 2014 with stock prices soaring up by around 350%. She said that in spite of this huge growth people are still rooting for it grow much bigger. She feels that the area of cellular metabolism for cancer treatment which this company is working on is a futuristic technology. She added that Agios Pharmaceutical Inc (NASDAQ:AGIO) will be presenting its data from phase 1 research in the ongoing conference.
Adami feels that Agios Pharmaceutical Inc (NASDAQ:AGIO) is growing too fast for his liking. He pointed at Nov 19, when 4 million AGIO stock traded and there was a huge uptrend in the stock. He was expecting the stock to pull after such a huge uptrend, which happened, but soon after it recovered and grew even faster.
“[…] Huge short interest in this name (AGIO). Its one actually I was probably right but not for long enough period of time if that makes sense. I think it goes higher you know, but I love Celgene still,” Adami said.
Najarian said that he likes Celgene Corporation (NASDAQ:CELG) and he added that he likes other name too, which is Amgen, Inc. (NASDAQ:AMGN).
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