An increasing focus on integrating advanced technologies into research efforts to generate viable drugs for treating various critical ailments, and growing demand for therapies from an aging population, should boost the biotech industry's growth. Given this backdrop, Wall Street analysts expect two low-priced biotech stocks—Esperion Therapeutics (NASDAQ:ESPR) and CTI BioPharma (NASDAQ:CTIC)—to deliver exceptional returns in the near term. Please read on for an explanation.In addition to helping the world combat the deadly COVID-19 virus, biotech companies are now working on producing viable medications and cures to treat other diseases by integrating advanced technologies. Furthermore, with an aging population heightening the demand for healthcare, the sector is poised to witness tremendous growth in the foreseeable future.
Also, the recently identified highly transmissible COVID-19 omicron variant could attract even more investor interest in the industry. The global biotechnology industry is projected to reach $2.44 trillion by 2028, registering a 15.8% CAGR.
Given the industry's solid growth prospects, Wall Street analysts expect quality biotech stocks Esperion Therapeutics Inc. (ESPR) and CTI BioPharma Corp. (CTIC), which are currently trading at less than $10, to deliver significant upside in the coming months. So, we think these stocks could be great additions to one's watchlist.