Biotech Stocks Driving The Market Higher

Heading into the last few days of summer, it is bittersweet.  August has been a month of gains for the biotechnology sector as the ETF’s have been on fire. Yesterday, the Health Care SPDR ETF (XLV) hit new highs, for the fourth trading session in a row.  The fund has gained nearly 12% over the past three months while the S&P Pharmaceuticals ETF (XPH) is up 16.7%, which also hit fresh highs yesterday.  The recent bullish moves in the sector are influencing the stride of record highs in the general markets.

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“Health-care stocks hauled in $800 million, leading the sector to see a total of $5.5 billion in inflows for the past three months. The S&P health-care sector has been the top performer so far this quarter. The fund amassed about $872.20 million in assets and was up about 9% past three months (as of Aug 17, 2018)” according to analysts.

Although we may be saying goodbye to summer, many analysts predict it’s not time to say goodbye to bullish moves in biotech just yet.  The sector is projected to see return-on-equity more than double to 27% versus the 19% expected growth in the broad market by the end of 2019. With the sector predicted to continue to outperform the general markets, here’s a few biotech stocks that may present opportunities to investors.

Click Here For Thursday’s Top Biotech Stocks To Watch

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