Two leading advisors with noted expertise in the biotech sector have both been long-term fans of Celgene (NASDAQ: CELG), both holding the stock in their respective model portfolios.

Here, Nate Pile, editor of Nate's Notes, and John McCamant, editor of The Medical Technology Stock Letter, each take a look at the encouraging prospects for this biotechnology firm.

Nate Pile explains, "Now that the Pharmion merger is behind us, it appears that investors are once again
recognizing Celgene for what it is – namely, one of the premier stories in the biopharmaceutical space.

"As I have said a number of times before, if I could only own one biotech stock for the next ten years, Celgene would be it... and I encourage you to make it a 'first choice' for your portfolio as well!

"The stock is likely to exhibit its usual volatility around the company's upcoming earnings report, but I encourage you to take advantage of any sell-off that may occur to aggressively add to your position in this market leader. CELG is now considered a strong buy under $60 and a buy under $68."

John McCamant states, "Celgene had some good news of late on the thalidomide front. The company has received approval of the application to expand the drug's label to treat newly diagnosed multiple myeloma (MM) patients in Australia.

"More specifically, it has now been approved for use in combination with melphalan and prednisone for patients with untreated MM or ineligible for high-dose chemotherapy.

"It has also been approved for use in combination with dexamethasone for induction therapy prior to high-dose chemotherapy with autologous stem cell rescue, for the treatment of patients with untreated MM. This most recent approval marks the first ever approval of an oral cancer drug for newly diagnosed MM patients in Australia.

"As a point of reference, we would note that thalidomide was approved for use (in combination with dexamethasone) in newly diagnosed MM patients in the U.S. nearly two years ago. The occurrence of subsequent approvals in the front-line MM treatment setting in other territories, such as Australia, was merely a matter of time.

"Having said this, it is no mystery that much larger upside for CELG and their shareholders resides within the Revlimid franchise - in various treatment settings, most notably MM. Like thalidomide, Revlimid has already been approved in Australia in MM patients that have already failed prior therapy.

"We fully expect Revlimid to follow thalidomide's path and receive approval for use in front-line MM patients in Australia (and numerous other countries) down the road, as well. This is part of CELG's master plan, the continued significant expansion of the Revlimid franchise.

"This growth will come in many different forms: geographically, through approval for use in new indications, and through approval for use in earlier lines of therapy for indications for which it is already approved. CELG is a buy under $52."

Each day, Steven Halpern's TheStockAdvisors.com offers the latest market commentary and favorite investment ideas from the nation's leading financial newsletter advisors.