3 A-Rated Biotech Stocks for Your 2024 Portfolio

3 A-Rated Biotech Stocks for Your 2024 Portfolio

Posted On December 14, 2023 10:14 am

With the rising prevalence of chronic diseases worldwide, favorable government measures, and the growing adoption of AI in healthcare, demand for innovative drugs and treatments has been rising considerably, boosting the biotech industry’s outlook. Given the industry’s steady growth prospects, investors could buy A-rated biotech stocks Entrada Therapeutics, Inc. (TRDA – Get Rating), Corcept Therapeutics Incorporated (CORT – Get Rating), and Alkermes plc (ALKS – Get Rating) this year.

Growing foothold of personalized medicine and an increasing number of orphan drug formulations are opening new avenues for biotechnology applications and are driving the influx of emerging and innovative biotechnology companies, further boosting the market revenue.

The global biotechnology market is expected to grow at a CAGR of 14% until 2030.

The Biden-Harris Administration is implementing new measures to promote healthcare competition and lower prescription drug costs for American families. They have released a proposed framework for agencies to exercise march-in rights on taxpayer-funded drugs, ensuring affordability and reasonable availability.

Moreover, the growing demand for the discovery and development of novel drug therapies and increasing manufacturing capacities of the life science industry are driving the demand for artificial intelligence (AI) empowered solutions in the drug discovery processes.

The global artificial intelligence in drug discovery market is expected to expand at a CAGR of 29.6% until 2030.

With these favourable trends in mind, let’s delve into the fundamentals of the three best Biotech stocks, beginning with…

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