Biotech stocks have been on the up recently. CNBC Pro screens for stocks that are looking cheap and which analysts expect to rally looking ahead.
U.S. biotech stocks have been on the up recently. The S & P Biotechnology Select Industry Index is up more than 6% in the past week. The Nasdaq Biotechnology Index , meanwhile, is up almost 4% over the same period and 8.5% over the past month.
Pro screened the iShares Biotechnology ETF on FactSet. The ETF, which tracks U.S. biotech stocks, has jumped around 10% in the past month, and risen more than 4% in the past week. It's down 11% year-to-date, but has outperformed the S & P 500 , which has tumbled about 17% in the same period. Pro's screen used the following criteria: A forward price-to-earnings ratio, which looks at estimated earnings for the next 12 months, of less than 10. A low P/E ratio could mean a stock is undervalued. Upside to consensus price target of 10% or more. A buy rating from a significant number of analysts covering the stock on FactSet. Eight stocks turned up on the screen, out of the 366 ETF constituents.
's Patti Domm contributed to this report.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Authorities seize 100 pounds of fentanyl pills in San BernardinoInvestigators say they searched a car and a home in the 200 block of East 9th Street on Thursday, finding 104 pounds of fentanyl pills, 5 ounces of meth and a gun.
Read more »
USDCAD Price Analysis: Bounces off 100-DMA to regain 1.3300USDCAD Price Analysis: Bounces off 100-DMA to regain 1.3300 – by anilpanchal7 USDCAD Technical Analysis ChartPatterns SwingTrading SupportResistance
Read more »
Drake Shares Hot 100 Top 10 With One Particular Entry Blocked Out With EmojisThe rapper seemed to be feeling like the “Anti-Hero” when he posted the new Hot 100 top 10 to his Instagram Stories on Monday (Nov. 14).
Read more »
Russia Bans 100 Canadians, Including Jim CarreyRussia’s Foreign Ministry has announced that 100 Canadians have been added to the list of people banned from entering the country in response to sanctions against Russia by Canada.
Read more »