11 Most Promising Biotech Stocks to Buy According to Analysts\n\nThe biotech industry has been making a strong comeback after a year of poor performance. The S&P Biotechnology Select Industry Index, which tracks biotech stocks, has seen a 29% increase since the end of October. This resurgence is due to recent developments and optimism related to interest rate reductions.\n\nM&A activity in the biotech industry has also been picking up pace, with deal value and volume close to pre-pandemic levels. \n\nIn addition to the long-standing focus on rare diseases, the biotech industry is now seeing a resurgence in therapies targeting obesity. Novo Nordisk’s GLP-1 weight loss medicine, Wegovy, has shown promising results in reducing the risk of major adverse cardiovascular events. Eli Lilly and Company’s Zepbound™ (tirzepatide) injection has also been approved for adults with obesity.\n\nThe 11 most promising biotech stocks to buy according to analysts are late stage clinical-stage biotechnology companies working on the development of novel therapeutics for rare diseases. These include Moderna, incorporated, Cytokinetics, incorporated, and Denali Therapeutics incorporated These stocks have been selected based on their high upside potential, positive analyst ratings, and long-term growth catalysts.\n\nTo identify these stocks, we used a stock screener and picked companies with an average analyst price estimate that is 50% more than their current price targets. We also considered the hedge fund sentiment for each stock, which was sourced from Insider Monkey’s proprietary database of elite hedge funds.\n\nThe biotech industry is showing signs of growth and resilience.