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5 Biotech Stocks Set to Soar in 2024 & Beyond!

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5 Biotech Stocks Set to Soar in 2024 & Beyond!
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Biotech stocks have been on a downward trend for the past couple of years, but there is hope for a potential turnaround in 2024. Multiple factors, including the expected interest rate cuts by the Federal Reserve and the surge of innovation in the industry, are driving this positive outlook. These tailwinds could help the biotech industry bounce back from its slump.

Based on this optimistic forecast, here are five biotech stocks worth considering for investment in 2024:

1. Amgen (NASDAQ: AMGN) – This company has a weight-loss candidate, maridebart cafraglutide, in phase 2 testing. Positive results could lead to a rally in Amgen’s stock, as the drug has a multibillion-dollar peak sales estimate. Additionally, investors can benefit from Amgen’s sizable dividend.

2. Argenx SE (NASDAQ: ARGX) – Focused on treatments for autoimmune disorders, Argenx has seen rapid uptake of its flagship drug Vyvgart Hytrulo. The company aims to expand the drug’s label and is trialing it in other rare conditions, which could be promising for future growth.

3. BeiGene (NASDAQ: BGNE) – An oncology company with a robust clinical pipeline, BeiGene is undervalued and has the potential to create shareholder value. With a variety of upcoming pipeline readouts and strong commercial prospects, this stock is expected to appreciate in the next 12 months.

4. CRISPR Therapeutics (NASDAQ: CRSP) – As a pioneer in the CRISPR/Cas9 gene editing realm, CRISPR Therapeutics has gained FDA approval for its sickle cell disease treatment. Although the stock may not see immediate gains in 2024, it has the potential for significant returns in the long run thanks to its unique gene-based medicines and high-value pipeline.

5. Immunovant (NASDAQ: IMVT) – With an early stage candidate called IMVT-1402, Immunovant stands out in the autoimmune disease space. The therapy has the potential to be a best-in-class treatment, attracting interest from potential acquirers. As more data becomes available, the stock is expected to steadily rise.

Investors looking for opportunities in the biotech sector should keep a close eye on these five stocks. They have strong potential for growth and could benefit from the positive factors driving the industry’s expected rebound in 2024.

Source: https://www.bloomberg.com/search-result?query=search%20accessibility

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*Why did we choose this article for headlines4happiness, what makes this news a good news?*

This article generates good thoughts and is positive for several reasons:

1. Provides hope and optimism: The article acknowledges the recent downward trend in biotech stocks but presents a positive outlook for a potential turnaround in 2024. This gives readers hope for a brighter future in the biotech industry.

2. Highlights positive factors: The article mentions multiple factors driving the positive outlook, such as expected interest rate cuts by the Federal Reserve and the surge of innovation in the biotech industry. These factors create a sense of optimism and reinforce the potential for growth in the sector.

3. Offers investment opportunities: By listing five biotech stocks worth considering for investment in 2024, the article provides readers with actionable options. This empowers investors and encourages them to take advantage of the expected rebound in the industry.

4. Provides reasons for each stock: Each stock mentioned is accompanied by a brief explanation of why it is worth considering. This information helps readers make informed investment decisions and understand the potential behind each stock.

5. Supports long-term returns: The article recognizes that some stocks may not see immediate gains in 2024 but have high potential for significant returns in the long run. This supports a long-term perspective and encourages investors to think beyond short-term fluctuations.

Overall, this article generates positive thoughts by presenting a hopeful outlook for the biotech industry, offering investment opportunities, and supporting the idea of long-term growth.

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