AMGN - 3 Best Biopharma Stocks to Buy During This Industrywide Fire Sale
Biopharmaceutical stocks are slated to end the year on a sour note. Apart from top COVID-19 vaccine players like Pfizer , Moderna , and Novavax , investors have shown little to no interest in owning these growth-oriented equities in 2021. As proof, the SPDR S&P Biotech ETF has lost a monstrous 17% of its value this year. This industrywide sell-off has also picked up momentum during the waning days of Nov., with an eye-popping 358 biopharma stocks falling by more than 10% during just the past three weeks.
Savvy investors, though, know that steep drops in the market typically represent compelling buying opportunities. Which biopharma stocks are the most attractive buys during this industrywide fire sale? Although there are literally dozens upon dozens of intriguing candidates, Affimed (NASDAQ: AFMD) , Amgen (NASDAQ: AMGN) , and Bristol Myers Squibb (NYSE: BMY) come across as the absolute best buys right now. Here's why.
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3 Best Biopharma Stocks to Buy During This Industrywide Fire Sale