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2 Biotech Stocks Wall Street Predicts Will Rally By More Than 150%

Stock MarketsJul 06, 2021 11:02AM ET
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© Reuters. 2 Biotech Stocks Wall Street Predicts Will Rally By More Than 150%

The Biotech industry has been instrumental in developing treatments for the coronavirus. The sector’s long-term potential remains solid due to the aging populating and the rising cost of healthcare. Wall Street analysts expect biotech stocks Sorrento Therapeutics (NASDAQ:SRNE) and Catabasis Pharmaceuticals (NASDAQ:CATB) to deliver exponential returns in the upcoming months.The Biotech industry has been in the limelight for quite some time. Companies directly or indirectly involved in COVID-19 related products such as vaccines and medicines are ramping up their production capacities as several countries are dealing with new variants of the virus.

Biotech companies with non-COVID drug pipelines, on the other hand, are focusing on tech integration and DNA synthesis in hopes of breakthrough development. The global biotech industry is expected to grow at a CAGR of 15.8% over the next seven years to reach $2.44 trillion by 2028.

Given this backdrop, Wall Street analysts expect the biotech stocks Sorrento Therapeutics, Inc. (SRNE) and Catabasis Pharmaceuticals, Inc. (CATB) to gain significantly in the upcoming months.

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2 Biotech Stocks Wall Street Predicts Will Rally By More Than 150%
 

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