The Best Biotech Stock to Own in September
Biotech is undoubtedly in a bear market. The SPDR S&P Biotech ETF and the iShares Biotechnology ETF are both down by more than 20% for the year at the time of this writing. The space has wilted this year under the combined weight of rising interest rates, geopolitical turmoil, and a fair amount of profit-taking following banner years for the industry in both 2020 and 2021. Given that biotech is still in the midst of an innovation bonanza, investors would be remiss if they avoided this group of equities altogether, however.
Vertex Pharmaceuticals (NASDAQ: VRTX), for example, has had little trouble shrugging off this bear market. In fact, the rare-disease giant's share price has surged by a healthy 28% since the start of 2022. And with a handful of important catalysts on the horizon, Vertex's shares probably haven't topped out yet. Here's why this top biotech innovator is the industry's best stock to buy in September.
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Source Fool.com
