Stock price when the opinion was issued
In past years, biotech was the safe trade, but this year risk is back, so these stocks have fallen out of favour. Also, there are so many drugs in trials now and big pharma needs new product. She's looking at Gilead and Moderna, because they have low PEs and alot of drugs in development. However, the overall sector is risky.
It is a biotech company well known for a cure for Hepatitis C which is off patent now. It made several acquisitions and has built out an HIV franchise. He needs to see execution on the oncology platform and elsewhere.