Politicians with a bully pulpit have been known to cause controversy, and Hillary Clinton’s vow to take on the drug industry has walloped the share prices on many pharmaceutical and biotechnology companies. We noted four top pharmaceutical stocks to buy on the current weakness. In a recent research report, Jefferies also highlighted three top biotech companies that are very tempting buys now.

Like all headline events, this too shall pass, and even if Mrs. Clinton does become president, the likelihood of her ever passing such a bill are very low. The Jefferies team says now is the perfect time to take advantage of the beat-down in the stocks and buy shares. They have three Buy-rated companies that look especially tempting now.

Alkermes

This is a top name in health care that many on Wall Street for years have thought to be an acquisition target. Alkermes PLC (NASDAQ: ALKS) is a fully integrated, global biopharmaceutical company developing innovative medicines for the treatment of central nervous system diseases. It has a diversified commercial product portfolio and a substantial clinical pipeline of product candidates for chronic diseases that include schizophrenia, depression, addiction and multiple sclerosis.

Jefferies and many others on Wall Street are very positive about the potential for its two late-stage pipeline drugs: 5461 for depression and 3831 for schizophrenia. The former product has already demonstrated that it has limited abuse potential, while the Phase 2 trial validated its mechanism of action for the drug. The Phase 3 clinical data being awaited on is considered to be a potential blockbuster for treatment-resistant depression.

The Jefferies price target for the stock is $76, and the Thomson/First Call consensus target is $73. The stock closed Thursday at $64.41.

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BioMarin Pharmaceuticals

This is one of Wall Street’s favorites and recently announced earnings were outstanding. BioMarin Pharmaceuticals Inc. (NASDAQ: BMRN) develops and commercializes innovative biopharmaceuticals for serious diseases and medical conditions. The company’s product portfolio includes five approved products and multiple clinical and preclinical product candidates.

Over the past decade, BioMarin has become one of the top orphan drug companies, and it looks poised to stay there. The company is expected to post around $875 million in revenue this year and possibly around $1.1 billion next year, following the approval of Vimizim, an enzyme replacement therapy for Morquio syndrome. BioMarin had raised its guidance for Vimizim to $200 million to $220 million from $170 million to $200 million.

Jefferies notes that the company could have big readouts this year and expects continued solid performance from BioMarin’s marketed products. The Drisapersen FDA Advisory Committee review will be in later this year and many are handicapping as high as 60% chance for approval.

Jefferies has a $166 price objective, while the consensus target is at $159.65. The stock closed on Thursday at $113.

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Celgene

Jefferies feels this large cap biotech has solid upside potential for 2015 and next year. Celgene Corp. (NASDAQ: CELG) has an outstanding partnered pipeline, which the firm thinks is low risk and has the potential to yield several blockbuster drugs. The Jefferies team also thinks the company can grow earnings 15%, on a compounded annual growth rate basis, going forward.

The company provided strong guidance earlier this year surrounding its Otezla launch and encouraging feedback from doctors on the potential of new triplet regimens in myeloma. Analysts across Wall Street are raising their estimates for the drug as, after a little more than a year on the market, Otezla, which treats psoriasis and psoriatic arthritis, has achieved considerable prescriptions among physicians.

Celgene’s blockbuster blood cancer drug Revlimid continues to dominate. Pomalyst sales grew nearly 46% year over year last quarter. Cancer drug Abraxane is also growing at a respectable rate, so the company continues to have a strong lineup of top-selling drugs. While second-quarter numbers were solid, the rest of the year could prove to be better.

The Jefferies price target is $140, but the consensus target is $149.83. Shares closed on Thursday at $113.88.

ALSO READ: Merrill Lynch Has 4 Pharma Stocks to Buy Against Political Chatter

While the rhetoric against the drug and biotech companies is always good political ammo, and it is entirely possible that others pick up on it, this sort of populist chatter isn’t new to Washington or Wall Street. With a very low chance of any huge pricing reform or industry changes, the sell-off in the stocks is really just a great price break for investors.

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