Biotechnology (biotech) refers to the use of microbes and cellular biology in health-related research and development. It is not just therapies that biotechnology companies develop. Many fields are embracing biotech, including healthcare, medicine, and related processes.
Investing in biotechnology stocks involves a risk because companies spend a lot of time and resources developing drugs that might never reach the shelves. A biotech product must usually undergo research and fundraising before the FDA (Food and Drug Administration) approves it. A drug can take years to become profitable after they have been developed.
Analysts, however, believe biotechnology has reached its peak. Today, science allows us to diagnose diseases, treat them, and even prevent them, which was not the case in the past. This may make biotechnology attractive to equity investors. The biotech industry develops innovative drugs and products that have the potential to change the world. Meanwhile, biotech companies have seen tremendous growth thanks to the development of COVID-19 treatments and vaccines.
Biotech Stocks to Buy
Pieris Pharmaceuticals Inc. (NASDAQ: PIRS) is 115.60% higher on its value in year-to-date trading and has touched a low of $1.70 and a high of $5.36 in the current 52-week trading range. The PIRS stock was last observed hovering at around $5.39 in the last trading session, with the day’s gain setting it 8.02% off its average median price target of $8.50 for the next 12 months.
Wall Street analysts tracking Pieris Pharmaceuticals Inc. (NASDAQ: PIRS) stock on daily basis. Out of 3 analysts, 3 deeming the stock a Buy, and 0 gave it a rating of OVERWEIGHT. Another 0 recommended that PIRS is a HOLD, while 0 rated it UNDERWEIGHT and the 0 recommended SELL. If we look at the broader picture, the above ratings give the stock an average analyst rating of 1.50.
Dynavax Technologies Corporation (DVAX) started the day trading at $19.46 and recorded an intraday high of $20.00. It also recorded an intraday low of $18.26 during Tuesday’s trading session. Dynavax Technologies Corporation is a very active stock that recorded a trading volume that is less than -233.11% of the average daily trading volume on Tuesday. The stock’s trading volume on Tuesday was 10.19 million, which is less than -233.11% of the total average daily trading volume of 10.19 million.
A recent spot check on the stock’s support and resistance revealed that the publicly traded Dynavax Technologies Corporation (NASDAQ: DVAX) shares are trading at a price close to -2.70% lower than its 90-day high. On the other hand, the stock is +142.64% away from its low in the 90-day period. More broadly, DVAX’s current price is 4.62% away from a 52-week high. The price is 443.58% above its 52-week low.
BeyondSpring Inc. (NASDAQ: BYSI) does about 2.96M shares in volume on a normal day but saw 2.81 million shares change hands in Tuesday trading. The company now has a market cap of $1.27 billion. Its current market price is $31.31, marking an increase of 13.48% compared to the previous close of $27.59. The 52 week high reached by this stock is $31.65 whilst the lowest price level in 52 weeks is $8.90. The script in recent trading has seen the stock touched a high of $33.00 and a low of $27.66.
The firm gained 151.89% to its share price over the past 12 months. The stock price gained 25.84% during the last 5 trades and is up 230.27% during the last 30 trades. However, the share price increased 143.85% in the last 6 months and 186.46% was added to its price during the period of the previous 3 months.
