Although the NASDAQ Biotechnology Index reached another all-time high last week - a feat almost unthinkable to anyone who was around during the genomics bubble in 2000 - at least two buysiders think the market for biotechs still has room to run. Instead of a sell-off or rotation out of the sector, the performance of the market cap-weighted NBI could prompt investors to look for buying opportunities among smaller biotechs.

Prior to this month, the NBI's previous high was 1,597 on March 6, 2000