These 2 Biotech Stocks Are Up 50% In 2021 and Could Go Even Higher
StockNews
Published Jun 15, 2021 12:48PM ET
Updated Jun 15, 2021 01:30PM ET
These 2 Biotech Stocks Are Up 50% In 2021 and Could Go Even Higher
Biotech companies have attracted a great deal of attention amid the global public health crisis with their efforts to help the world fight the COVID-19 virus. Furthermore, the industry is making significant progress in finding cures for several previously incurable diseases with the help of advanced technologies. With continued innovation and strong financials, we think Biogen (BIIB) and BioNTech (BNTX) are examples of companies in the sector that are well positioned to keep benefiting from the industry’s solid growth prospects. Read on.The COVID-19 pandemic has highlighted the importance of the Biotech industry. The industry has been able to help the world fight against the deadly virus through vaccines and therapies. Along with contributing to fighting the virus, the industry’s increased focus on finding cures for other currently incurable diseases should help it keep growing. According to a Polaris (NYSE:PII) Market Research report, the global biotechnology market is expected to grow at a 15.5% CAGR from 2021 - 2028.
Investors’ interest in the biotech industry is evident in the SPDR S&P Biotech ETF’s (XBI) 7.7% returns over the past month versus the SPDR S&P 500 Trust ETF’s (SPY) 2.4% gains over this period.
However, biotech stocks are high risk-reward investment propositions in that continuous innovation from investing in R&D is crucial for these companies to prosper. Biogen Inc. (NASDAQ:BIIB) and BioNTech SE (NASDAQ:BNTX) are innovating consistently and possess strong financials. So, these two stocks have gained more than 50% so far this year and we think still have plenty of upside.
Continue reading on StockNews
Get The News You Want
Written By: StockNews
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.