Sector-specific concerns plus an investor rotation out of growth stocks have sent biotech shares tumbling. Buysiders think the slide is a healthy correction rather than a sign the dance music has stopped.

The iShares Nasdaq Biotechnology (IBB) exchange traded fund hit a 52-week high of 275.4 on Feb. 25. Over the past month, however, the IBB is off 13%, the BioCentury 100 Index is off 14%, the NASDAQ Biotechnology Index is down 11% and the NYSE Arca Biotechnology Index has