"Some sectors tend to do better than others in tough times; biotechnology often surprises investors in good times and bad," suggests Brandon Clay.

In his Invest with an Edge advisory service, the growth stock advisor looks to Celgene Corporation (NASDAQ: CELG), a player in developing cancer treatments. Here's his review.

"This sometimes-perilous market niche can make or break a portfolio depending on several factors: drug pipeline, continued investment, market factors, and government approvals.

"However, despite the risks, there are times when we believe that individual biotech stocks make sense -- such as our latest recommendation for Celgene.

Pharmaceutical company Celgene Corp., beaten down by Wall Street for the better part of 10 months, is now a Buy in these circles. Here's why:

Analysts now expect FY2009 revenue to increase 15-18%, boosted by Revlimid and Vidaza sales. Further, pipeline candidates in psoriasis and small cell lung cancer are nearing late-stage study. The First Call FY2009/FY2010 EPS estimates for CELG are $2.04 to $2.65.

For 25 years, Steven Halpern, editor of TheStockAdvisors.com, has surveyed the leading financial newsletter advisors asking for their favorite stocks for the coming year. This article is one of 100+ ideas in the Best Stocks for 2008 report.

"Our favorite more conservative stock for 2008 is Celgene (NASDAQ: CELG)," says biotech expert John McCamant, editor of The Medical Technology Stock Letter.

"The company is focused on the development of new and improved treatments for various cancers and other severe, immune, inflammatory conditions, and is well on its way to becoming a major global biopharmaceutical entity.

"Over the years, we have watched management consistently deliver on its promises to shareholders and create additional value. The most notable cancer drugs at CELG are Thalidomide and Revlimid (a second-generation version of Thalidomide).

"These are oral therapies that have become the cornerstone in the treatment of multiple myeloma (MM), and which are in clinical development for many other blood-borne cancers, including non-Hodgkin's lymphoma (NHL) and CLL.