The markets have been performing very well in 2019 with the Dow Jones, the Nasdaq, and the S&P 500 all up more than 20% since the beginning of the year. That's great news for investors who are already holding stocks, but for those looking to get into the market for the first time, it means current valuations are high. Finding good deals is hard, as many stocks are trading at inflated values, especially in biotech, where stocks tend to take off at a moment's notice.
However, these two biotech stocks look very cheap today, and it's not too late for investors to scoop up these deals.
Exelixis (NASDAQ: EXEL) is a biotech company that focuses on oncology and develops medicine to help patients battle various cancers. It's an area of healthcare that, unfortunately, isn't likely to see demand decrease anytime soon. The company's most popular drug is Cabometyx, which treats patients who have liver cancer or advanced kidney cancer. The drug aims to stop the growth and division of cancer cells, which can prevent tumors from growing, potentially shrinking them.