2 Cancer Stocks With Absurdly Low Valuations
The potential for four or more interest rate hikes by the Federal Reserve over the course of 2022 has been weighing heavily on growth stocks of late. Yesterday, clinical and early commercial stage biopharmaceutical stocks took a particularly big hit in response to this risk factor. Investors are clearly pivoting toward safe havens like value and dividend stocks ahead of this perceived eventuality. The net result is that quite a few promising biopharma stocks are now trading at deep discounts relative to their long-term potential.
Which biopharma stocks are simply too cheap right now? Shares of the cancer specialists Adaptimmune Therapeutics (NASDAQ: ADAP) and Clovis Oncology (NASDAQ: CLVS) are both trading at absurdly low valuations following their steep downturns over the past several weeks. Here's why bargain hunters might want to take advantage of this weakness in these two small-cap biopharmas.
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Source Fool.com
