2 Biotech Stocks to Watch In 2020
2019 was a good year for the stock market; the S&P 500 provided a return of almost 30% during the year. And some industries performed even better than that. Consider the biotech industry, measured by the SPDR S&P Biotech ETF, which was up by about 32.5% in 2019. Could biotech stocks keep this pace up? It's hard to tell, but if you are interested in investing in biotech stocks, here are two companies you should keep an eye on: Acadia Pharmaceuticals (NASDAQ: ACAD) and CRISPR Therapeutics (NASDAQ: CRSP).
Acadia only has one drug on the market, a medicine called Nuplazid, which treats hallucinations and delusions associated with Parkinson's disease psychosis (PDP). Sales of Nuplazid are growing fast. During the third quarter, Nuplazid recorded $94.6 million in sales, a 62% year-over-year increase. Of course, reliance on a single product can be a major problem for a biotech company. That said, the future of Nuplazid looks bright; here are two reasons why.
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Source Fool.com
