2 Grossly Undervalued Biotech Stocks That Could Double Your Money
Biotech stocks are officially in a slump. After a rip-roaring 2020 fueled by the advent of COVID-19 vaccines and therapeutics, the iShares Nasdaq Biotechnology ETF has now lost 10% of its value in the past three months.
The industry has suddenly lost favor with investors because of a confluence of headwinds, including an apparently stricter Food and Drug Administration (FDA), the politics of the never-ending drug pricing debate, and the specter of rising interest rates and higher capital gains taxes. Seasoned biotech investors, though, know that downturns in the space are typically an outstanding buying opportunity.
Which biotech names should bargain hunters have on their radars right now? Aurinia Pharmaceuticals (NASDAQ: AUPH) and Agenus (NASDAQ: AGEN) are two small-cap biotech companies that could be downright steals at current levels. In fact, there's a decent chance that both of these names could more than double in value within the next 12 to 24 months. Here's what investors need to know about these promising biotech growth plays.
Source Fool.com
