For the third time in less than two weeks, one of the top brokerage firms we cover at 24/7 Wall Street has loudly stepped up to the plate and advised investors to buy the top biotech stocks in front of second-quarter earnings. In fact, this week the analysts at Leerink also recently highlighted top biotech stocks to buy in front of earnings.

Regional powerhouse Baird is the newest entrant to the biotech party, citing numerous catalysts, not the least of which is rising prescription numbers and very strong pipelines.

The mere fact that so many on Wall Street are positive on the second quarter could be disconcerting to contrarians, as that is considered the perfect indicator. With a very slow first quarter for the top stocks, and seasonal factors kicking in, the majority may just have it right this time.

Baird’s focus is on five top biotech stocks, all rated Overweight for investors to focus on before earnings are released.

Alexion Pharmaceuticals Inc. (NASDAQ: ALXN) is a top pick Baird and many believe the stock is a potential acquisition target. The analysts are positive on the shares on upside to numbers for the quarter, Soliris label expansion and its ongoing transition from a one-drug company to a firm with two to three drugs. While in-line with consensus earnings expectations, the Baird team thinks that a beat of as much as $0.05 per share is not out of the question.

The Baird price target for the stock is $199. The Thomson/First Call consensus price target is $193.89. Alexion closed Thursday at $155.06 a shares and reports earnings July 24.

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AMAG Pharmaceuticals Inc. (NASDAQ: AMAG) makes the Baird list, and has not shown up on any other of our Wall Street research. It is a specialty pharmaceutical company that markets Feraheme (ferumoxytol) Injection and MuGard Mucoadhesive Oral Wound Rinse in the United States. The Baird team has data showing Feraheme scripts up 28% for April/May, versus the January/February period. If June came through in similar fashion, earnings could be robust.

The Baird price target for the stock is $26, and the consensus target is at $23.20. AMAG closed Thursday at $17.96 and reports on July 28.

BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) also makes the list, and interest here is likely related to the commercial success of the orphan drug model globally. Its diversified and expanding pipeline could also provide significant strategic value to acquirers. While some important Phase 3 data were moved to next year, a successful Vimizim launch is key to the near-term success and momentum for the stock. Launched in mid-February, the second quarter will provide the first full 90-day look at sales. Though slightly below Wall Street estimates for sales, the Baird analysts say the company may guide to $60 million to $70 million in total sales for the year.

Baird has an $82 price target for BioMarin, while the consensus figure is at $82.38. Shares closed Thursday at $55.78, and the company reports earnings on July 30.

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Celgene Corp. (NASDAQ: CELG) is a mega cap name to buy at Baird. The big biotech has presented results from an analysis that showed encouraging news for blockbuster drug Revlimid as a treatment for multiple myeloma. A combination of Revlimid and low-dose dexamethasone significantly improved overall survival and progression-free survival rates, leading some experts to conclude that the treatment may become the new standard of care for the disease.

Baird analysts are slightly ahead of consensus for Revlimid sales. They point out that the second quarter typically rebounds, and April commentary from the company indicated better sales trends. Baird is also higher than other firm on estimates for Abraxene sales, which the firms peg at $224 million. The Baird price target for this top name is $97, and the consensus target is $95.18. The stock closed Thursday at $83.13. The earnings report is due July 24.

Regeneron Pharmaceuticals Inc. (NASDAQ: REGN) has been a stock performance monster over the past two years, and most Wall Street firms expect it to stay one. With treatments for everything from macular degeneration to colorectal cancer, the company continues to exploit an extraordinary pipeline. The Baird analysts are anticipating continued momentum in the company’s Eylea drug, but are somewhat concerned that overall expectations may be too high, especially after management at the company indicated that sales for the year could be more back-end loaded.

Baird anticipates 2014 sales of $1.74 billion for Regeneron, which is in line with guidance. Baird has a $368 price target, and the consensus target is $345.83. The stock closed Thursday at $296.41, and Regeneron will report on August 5.

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