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

Published 07/06/2021, 10:21 AM
Updated 07/06/2021, 11:02 AM
© 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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I am very bullish long-term on Sorrento. This Biotech has so many promising drugs in the pipeline that it makes one's head spin, some of which are in phases 2 and 3. The company has been developing several potential treatments/diagnostics addressing the coronavirus.100% of the patients treated with COVI-MSC in a Phase 1b study who were hospitalized in the intensive care unit recovered fully and were discharged from the hospital. The FDA could approve it for emergency use authorization by year's end if all goes well. Also, Sorrento has a slew of drugs in the pipeline targeting pain and cancer. Can't wait to see where this company is a year from now.
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