Avoid These 3 Biotech Stocks That Were Recently Downgraded By StockNews

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© Reuters. Avoid These 3 Biotech Stocks That Were Recently Downgraded

The biotech industry is making considerable progress in developing viable drugs and therapies for treating several critical diseases with the integration of advanced technologies. But although rising investments and breakthroughs in clinical trials make the industry’s prospects bright, Genmab (NASDAQ:), argenx (ARGX), and XOMA (XOMA) are not well-positioned to capitalize on the tailwinds. As a result, analysts have recently downgraded these stocks. Let’s discuss.Millions of people are diagnosed with cancer each year and it is now the world’s second-most common cause of death, following cardiovascular diseases. But many biotech and pharmaceutical companies are making significant progress in treating various types of cancers. Moreover, the integration of advanced technologies is helping biotech companies develop viable drugs and therapies for treating other critical diseases.

Although it contributed greatly to the fight against COVID-19, the biotech industry is focused more on finding cures for other critical diseases. Rising government investments and an aging population should keep driving the industry’s growth. Indeed, the global biotechnology market size is expected to grow at a 16.8% CAGR between 2021 – 2030.

However, not all stocks from this industry are well-positioned to capitalize on the tailwinds. Fundamentally weak and overvalued biotech stocks Genmab A/S (GMAB), argenx SE (ARGX), and XOMA Corporation (XOMA) were recently downgraded by analysts.

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