My 3 Top Biotech Stock Picks for 2022
Biotech stocks haven't been at their best of late. The SPDR S&P Biotech Exchange Traded Fund (NYSEMKT: XBI) has lost more than 30% of its value over the prior 12 months. The XBI is thus bumping up against its 52-week low as of this writing.
Investors have been backing away from biotech stocks over the past year for many reasons, including inflationary pressures, the risk of rising interest rates, the threat of fundamental drug pricing reform in the U.S., and the appeal of other high-growth asset classes like cryptocurrency.
All isn't lost, however. Biotech, as a whole, is still going through an unprecedented period of innovation. As a result, scores of untapped, high-value therapeutic markets are starting to open up, a fact that bodes well for the industry's long-term fortunes. Savvy investors, in turn, would be wise to take advantage of this broad selloff in biotech.
Source Fool.com
