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Best Biotech Stocks to Buy Now (2023)

Top biotech stocks in 2023 ranked by overall Zen Score. See the best biotech stocks to buy now, according to analyst forecasts for the biotechnology industry.

According to Zen Score, the 3 best biotechnology stocks to buy right now are:

Arcturus Therapeutics Holdings (NASDAQ:ARCT) is the top biotech stock with a Zen Score of 75, which is 49 points higher than the biotech industry average of 26. It passed 24 out of 33 due diligence checks and has strong fundamentals. Arcturus Therapeutics Holdings has seen its stock return 34.72% over the past year, overperforming other biotech stocks by 59 percentage points.

Arcturus Therapeutics Holdings has an average 1 year price target of $58.67, an upside of 144.24% from Arcturus Therapeutics Holdings's current stock price of $24.02.

Arcturus Therapeutics Holdings stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 3 analysts covering Arcturus Therapeutics Holdings, 33.33% have issued a Strong Buy rating, 66.67% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Voyager Therapeutics (NASDAQ:VYGR) is the second best biotech stock with a Zen Score of 66, which is 40 points higher than the biotech industry average of 26. It passed 21 out of 33 due diligence checks and has strong fundamentals. Voyager Therapeutics has seen its stock return 34.36% over the past year, overperforming other biotech stocks by 58 percentage points.

Voyager Therapeutics has an average 1 year price target of $16.00, an upside of 103.56% from Voyager Therapeutics's current stock price of $7.86.

Voyager Therapeutics stock has a consensus Buy recommendation according to Wall Street analysts. Of the 1 analyst covering Voyager Therapeutics, 0% have issued a Strong Buy rating, 100% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Harmony Biosciences Holdings (NASDAQ:HRMY) is the third best biotech stock with a Zen Score of 64, which is 38 points higher than the biotech industry average of 26. It passed 21 out of 33 due diligence checks and has strong fundamentals. Harmony Biosciences Holdings has seen its stock lose -48.27% over the past year, underperforming other biotech stocks by -24 percentage points.

Harmony Biosciences Holdings has an average 1 year price target of $48.71, an upside of 56.89% from Harmony Biosciences Holdings's current stock price of $31.05.

Harmony Biosciences Holdings stock has a consensus Buy recommendation according to Wall Street analysts. Of the 7 analysts covering Harmony Biosciences Holdings, 57.14% have issued a Strong Buy rating, 28.57% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 14.29% have issued a Strong Sell.

Out of 7 biotech stocks that have issued dividends in the past year, the 3 biotech stocks with the highest dividend yields are:

Kineta (NASDAQ:KA) has an annual dividend yield of 223.94%, which is 183 percentage points higher than the biotech industry average of 40.78%.

Kineta's dividend payout ratio of -16,683.3% indicates that its high dividend yield might not be sustainable for the long-term.

Mei Pharma (NASDAQ:MEIP) has an annual dividend yield of 26%, which is -15 percentage points lower than the biotech industry average of 40.78%.

Mei Pharma's dividend payout ratio of 0% indicates that its high dividend yield might not be sustainable for the long-term.

Gyre Therapeutics (NASDAQ:GYRE) has an annual dividend yield of 18.38%, which is -22 percentage points lower than the biotech industry average of 40.78%. Gyre Therapeutics's dividend payout is not stable, having dropped more than 10% one times in the last 10 years. Gyre Therapeutics's dividend has not shown consistent growth over the last 10 years.

Gyre Therapeutics's dividend payout ratio of -17.4% indicates that its high dividend yield might not be sustainable for the long-term.

Biotech stocks were up 0.99% in the last day, and up 5.13% over the last week. Cerevel Therapeutics Holdings was the among the top gainers in the biotechnology industry, gaining 11.37% yesterday.

Cerevel Therapeutics shares are trading higher after AbbVie announced it will acquire the company for a total equity value of approximately $8.7 billion.

Based on WallStreetZen's Valuation Score, the 3 most undervalued biotech stocks right now are:

Voyager Therapeutics (NASDAQ:VYGR) is the most undervalued biotech stock based on WallStreetZen's Valuation Score. Voyager Therapeutics has a valuation score of 100, which is 70 points higher than the biotech industry average of 30. It passed 7 out of 7 valuation due diligence checks.

Voyager Therapeutics's stock has gained 34.36% in the past year. It has overperformed other stocks in the biotech industry by 58 percentage points.

Arcturus Therapeutics Holdings (NASDAQ:ARCT) is the second most undervalued biotech stock based on WallStreetZen's Valuation Score. Arcturus Therapeutics Holdings has a valuation score of 100, which is 70 points higher than the biotech industry average of 30. It passed 7 out of 7 valuation due diligence checks.

Arcturus Therapeutics Holdings's stock has gained 34.72% in the past year. It has overperformed other stocks in the biotech industry by 59 percentage points.

Fortress Biotech (NASDAQ:FBIO) is the third most undervalued biotech stock based on WallStreetZen's Valuation Score. Fortress Biotech has a valuation score of 100, which is 70 points higher than the biotech industry average of 30. It passed 7 out of 7 valuation due diligence checks.

Fortress Biotech's stock has dropped -66.67% in the past year. It has underperformed other stocks in the biotech industry by -43 percentage points.