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In addition to the need to fight the COVID-19 virus more effectively, biotech companies’ increased focus on finding cures for other rare diseases should help the industry grow. According to a report by Vision Research Reports, the global biotechnology market is expected to grow at a 16.83% CAGR between 2021 – 2030.
With most biotech stocks being high-risk/high-reward investment propositions, we think it is wise to bet on quality biotech stocks Takeda Pharmaceutical Company Limited (NYSE:TAK), Exelixis, Inc. (EXEL), and Vanda Pharmaceuticals Inc. (VNDA). They have overall A (Strong Buy) ratings in our proprietary POWR Ratings system, along with A grades for Value, among other categories. So, if one is open to investing $2,000 in some no-brainer stocks, we believe these three stocks are ideal choices now.
