1 Top Biotech Stock to Buy in March
Biotech stocks had a rough 2022. Speaking to this point, the SPDR S&P Biotech ETF sank by an eye-catching 25.8% last year. Concerns about a stricter Food and Drug Administration (FDA), rising interest rates, and a growing aversion to risk weighed particularly heavily on clinical and early commercial-stage biotech stocks. The silver lining, if you can call it that, is that the small-to-mid-cap biotech landscape is now chock-full of companies trading at a steep discount relative to their long-term value proposition.
Which of these beaten-down biotech stocks is the most compelling buy in March? While there are a surfeit of candidates, Acadia Pharmaceuticals (NASDAQ: ACAD) stands out as an intriguing buy ahead of its upcoming Prescription Drug User Fee Act target action date of March 12 for the experimental Rett syndrome candidate, trofinetide.
Acadia licensed this novel synthetic analog of the amino‐terminal tripeptide of IGF-1 from the Australia-based Neuren Pharmaceuticals (ASX: NEU) in 2018. If approved, Acadia and Neuren would sport the first medication specifically designed for this rare neurological disorder.
Source Fool.com
