Published on 15 Dec 2023 on Insider Monkey via Yahoo Finance

11 Most Promising Biotech Stocks to Buy According to Analysts

In this article, we will take a look at the 11 most promising biotech stocks to buy according to analysts. To skip our analysis of the recent trends, and market activity, you can go directly to see the 5 Most Promising Biotech Stocks to Buy According to Analysts.

The biotech industry is making a resurgence after more than a year of dismal performance which has seen S&P Biotechnology Select Industry Index, an index that tracks stocks belonging to the biotechnology industry, lose more than 50% of its value from its peak in early 2021. Rising interest rates and cool-down of pandemic-era triumphs led to bearish sentiment from investors. Recent developments, technological as well as optimism related to interest rate reductions, have led to a significant rally for the industry with the index up 29% since the end of October.

The M&A activity in the biotech industry is picking up pace once again after a dismal performance last year. It has been a relatively strong year for the pharmaceutical and life sciences sectors with both deal value and volume of M&A close to pre-pandemic levels, according to PwC’s latest analysis. These sectors combined registered $222 billion worth of M&A deals during the twelve months ended November 16, 2023.