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3 Top Biotech Picks for January

TheMotleyFool

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Biotech stocks were huge winners for investors last year, with some seeing 1,000% gains. The SPDR S&P Biotech Index was up 56% over the past year, compared to 17% for the S&P 500 Index.

According to a report by MarketWatch, biotech spending is likely to increase to $510 billion by 2027, a compound annual growth rate (CAGR) of 6.1% from 2020. If you're looking for a stock in this sector to add to your portfolio, Amgen (NASDAQ: AMGN), Trillium Therapeutics (NASDAQ: TRIL), and Illumina (NASDAQ: ILMN) are solid biotech choices for this month.

Image source: Getty Images.

Source Fool.com

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