There's a strong possibility that the bear market isn't ending in 2023, especially if a recession ends up taking hold. While that's not great news for investors, it could mean that some growth stocks that are still a bit expensive may become more attractive buys in the near future. Both Seagen (NASDAQ: SGEN) and Alphabet (NASDAQ: GOOG) are two such stocks that investors should keep a close eye on.

Biotech specialist Seagen is a top business that you can invest in for the long haul. The company's cancer-fighting drugs offer investors lots of solid long-term growth potential. Plus, it generates a strong gross margin of around 80%.

And while the stock has fallen 22% this year, shares of Seagen are trading at 12 times revenue, which is a bit steep given that the company isn't profitable yet. That is getting close to its five-year low, but given the uncertainty with COVID-19 cases climbing again and the potential for procedures to be put off next year, investors should price in a margin of safety, and thus, wait for a lower valuation before adding Seagen to their portfolios.

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Source Fool.com