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Although it contributed greatly to the fight against COVID-19, the biotech industry is focused more on finding cures for other critical diseases. Rising government investments and an aging population should keep driving the industry’s growth. Indeed, the global biotechnology market size is expected to grow at a 16.8% CAGR between 2021 – 2030.
However, not all stocks from this industry are well-positioned to capitalize on the tailwinds. Fundamentally weak and overvalued biotech stocks Genmab A/S (GMAB), argenx SE (ARGX), and XOMA Corporation (XOMA) were recently downgraded by analysts.
