Sectors & IndustriesHealthcareBiotechnology

Best Biotech Stocks to Buy Now (2024)

Top biotech stocks in 2024 ranked by overall Due Diligence Score. See the best biotech stocks to buy now, according to analyst forecasts for the biotechnology industry.

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

Catalyst Pharmaceuticals (NASDAQ:CPRX) is the top biotech stock with a Due Diligence Score of 76, which is 53 points higher than the biotech industry average of 23. It passed 25 out of 33 due diligence checks and has strong fundamentals. Catalyst Pharmaceuticals has seen its stock return 52.28% over the past year, overperforming other biotech stocks by 70 percentage points.

Catalyst Pharmaceuticals has an average 1 year price target of $32.20, an upside of 48.39% from Catalyst Pharmaceuticals's current stock price of $21.70.

Catalyst Pharmaceuticals stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 5 analysts covering Catalyst Pharmaceuticals, 60% have issued a Strong Buy rating, 40% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Corcept Therapeutics (NASDAQ:CORT) is the second best biotech stock with a Due Diligence Score of 67, which is 44 points higher than the biotech industry average of 23. It passed 22 out of 33 due diligence checks and has strong fundamentals. Corcept Therapeutics has seen its stock return 124.57% over the past year, overperforming other biotech stocks by 142 percentage points.

Corcept Therapeutics has an average 1 year price target of $75.25, an upside of 26.64% from Corcept Therapeutics's current stock price of $59.42.

Corcept Therapeutics stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 4 analysts covering Corcept Therapeutics, 75% have issued a Strong Buy rating, 25% 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 Due Diligence Score of 66, which is 43 points higher than the biotech industry average of 23. It passed 22 out of 33 due diligence checks and has strong fundamentals. Harmony Biosciences Holdings has seen its stock return 3.43% over the past year, overperforming other biotech stocks by 21 percentage points.

Harmony Biosciences Holdings has an average 1 year price target of $52.14, an upside of 55.7% from Harmony Biosciences Holdings's current stock price of $33.49.

Harmony Biosciences Holdings stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 7 analysts covering Harmony Biosciences Holdings, 42.86% have issued a Strong Buy rating, 57.14% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Out of 4 biotech stocks that have issued dividends in the past year, the 3 biotech stocks with the highest dividend yields are:

Oruka Therapeutics (NASDAQ:ORKA) has an annual dividend yield of 95.16%, which is 71 percentage points higher than the biotech industry average of 24.43%.

Oruka Therapeutics's dividend payout ratio of -309.2% indicates that its high dividend yield might not be sustainable for the long-term.

Novo Nordisk (Ozempic) (NYSE:NVO) has an annual dividend yield of 1.33%, which is -23 percentage points lower than the biotech industry average of 24.43%. Novo Nordisk (Ozempic)'s dividend payout is not stable, having dropped more than 10% nine times in the last 10 years. Novo Nordisk (Ozempic)'s dividend has shown consistent growth over the last 10 years.

Novo Nordisk (Ozempic)'s dividend payout ratio of 47.2% indicates that its dividend yield is sustainable for the long-term.

Royalty Pharma (NASDAQ:RPRX) has an annual dividend yield of 0.8%, which is -24 percentage points lower than the biotech industry average of 24.43%. Royalty Pharma's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Royalty Pharma's dividend has shown consistent growth over the last 10 years.

Royalty Pharma's dividend payout ratio of 32.3% indicates that its dividend yield is sustainable for the long-term.

Biotech stocks were down -1.17% in the last day, and down -2.31% over the last week. Cg Oncology was the among the top losers in the biotechnology industry, dropping -6.54% yesterday.

CG Oncology shares are trading lower. The company announced topline data from the Phase 3 BOND-003 trial in patients with high-risk Non-Muscle Invasive Bladder Cancer unresponsive to Bacillus Calmette Guerin.

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

Jazz Pharmaceuticals (NASDAQ:JAZZ) is the most undervalued biotech stock based on WallStreetZen's Valuation Score. Jazz Pharmaceuticals has a valuation score of 71, which is 56 points higher than the biotech industry average of 15. It passed 5 out of 7 valuation due diligence checks.

Jazz Pharmaceuticals's stock has gained 1.36% in the past year. It has overperformed other stocks in the biotech industry by 19 percentage points.

Adlai Nortye (NASDAQ:ANL) is the second most undervalued biotech stock based on WallStreetZen's Valuation Score. Adlai Nortye has a valuation score of 71, which is 56 points higher than the biotech industry average of 15. It passed 5 out of 7 valuation due diligence checks.

Adlai Nortye's stock has dropped -80.8% in the past year. It has underperformed other stocks in the biotech industry by -63 percentage points.

Altamira Therapeutics (NASDAQ:CYTO) is the third most undervalued biotech stock based on WallStreetZen's Valuation Score. Altamira Therapeutics has a valuation score of 71, which is 56 points higher than the biotech industry average of 15. It passed 5 out of 7 valuation due diligence checks.

Altamira Therapeutics's stock has dropped -93.26% in the past year. It has underperformed other stocks in the biotech industry by -76 percentage points.