Amy Zhang: this ‘underrated’ biotech firm can weather recession

The iShares Biotechnology ETF (IBB) is still down nearly 25% for the year, but Alger’s portfolio manager says there are opportunities within this space that can weather a recession.

Zhang’s favourite stock in the biotech space

One such name that pops out to Amy Zhang is Bio-Techne Corporation (NASDAQ: TECH) that she says does everything expected of a biotech company. On CNBC’s “Worldwide Exchange”, the portfolio manager said:

Zhang expects the Minneapolis-headquartered company to do well both in an inflationary as well as a recessionary environment. The stock is down more than 30% from its all-time high in September 2021.

Why else is she bullish on Bio-Techne stock

Last month, Bio-Techne reported its financial results for the first quarter that topped Wall Street expectations. Explaining further why she’s positive on the Nasdaq-listed company, Zhang added:

With over 500,000 products, Bio-Techne serves a wide range of markets, including universities, governments, pharmaceutical, and clinical research. Wall Street, on average, sees a more than 40% upside in TECH.