OCGN - 1 Biotech Stock to Buy Hand Over Fist and 1 to Avoid
2024-07-11 08:45:00 ET
It hasn't been a stellar year so far for biotech companies. The industry, as measured by the SPDR S&P Biotech ETF , is up just 4% since January, significantly lagging the S&P 500 's nearly 17% gain.
Of course, it's not hard to find stocks that have performed both better and worse than the sector average. Consider CRISPR Therapeutics (NASDAQ: CRSP) , a mid-cap biotech that is down by 13% this year. On the other end of the spectrum is Ocugen (NASDAQ: OCGN) , a small-cap drugmaker whose shares are up a stunning 164%.
That said, it's not a good idea to rely on six months' worth of data to decide which stocks to buy. These two biotechs will likely reverse positions over the long run, with CRISPR performing much better than Ocugen. Read on to find out why the former is worth investing in while the latter should be avoided.
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1 Biotech Stock to Buy Hand Over Fist and 1 to Avoid