Deutsche Bank Analyst Likes Genzyme (GENZ), Gilead (GILD) And Amgen (AMGN)

Deutsche Bank analyst Mark Schoenebaum thinks that Genzyme (NASDAQ: GENZ), Gilead (NASDAQ: GILD) And Amgen (NASDAQ: AMGN) are currently undervalued.

He thinks that Genzyme (GENZ) is the most controversial stock in all of biotech. They were forced to temporarily halt production of its plant due to virus contamination, which caused shortage of a drug called Cerezyme. Schoenebaum thinks that there is a 60% chance that this issue will be resolved. This scenario holds a lot of upside, but there is a downside risk too. Genzyme (GENZ) added 0.35 points on Friday and closed at $55.88.

Schoenebaum expects that third quarter numbers for Gilead (GILD) will beat expectations. He also believes that this company is one of the best managed in the space. Gilead (GILD) dropped 0.54% to $46.10 and had a volume of around $7.3M.

Amgen (AMGN) is also a stock that should be closely watched. This stock is interesting because of its new drug denosumab. The company is still waiting for FDA approval. Amgen's (AMGN) stock price fell 0.76% to 58.58.