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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 52 points higher than the biotech industry average of 23. It passed 24 out of 33 due diligence checks and has strong fundamentals. Arcturus Therapeutics Holdings has seen its stock return 58.61% over the past year, overperforming other biotech stocks by 86 percentage points.

Arcturus Therapeutics Holdings has an average 1 year price target of $58.67, an upside of 129.89% from Arcturus Therapeutics Holdings's current stock price of $25.52.

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.

Genmab A (NASDAQ:GMAB) is the second best biotech stock with a Zen Score of 65, which is 42 points higher than the biotech industry average of 23. It passed 21 out of 33 due diligence checks and has strong fundamentals. Genmab A has seen its stock lose -32.23% over the past year, underperforming other biotech stocks by -4 percentage points.

Genmab A has an average 1 year price target of $45.25, an upside of 48.95% from Genmab A's current stock price of $30.38.

Genmab A stock has a consensus Buy recommendation according to Wall Street analysts. Of the 4 analysts covering Genmab A, 50% have issued a Strong Buy rating, 25% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 25% have issued a Strong Sell.

Harmony Biosciences Holdings (NASDAQ:HRMY) is the third best biotech stock with a Zen Score of 64, which is 41 points higher than the biotech industry average of 23. It passed 21 out of 33 due diligence checks and has strong fundamentals. Harmony Biosciences Holdings has seen its stock lose -49.75% over the past year, underperforming other biotech stocks by -22 percentage points.

Harmony Biosciences Holdings has an average 1 year price target of $48.71, an upside of 67.46% from Harmony Biosciences Holdings's current stock price of $29.09.

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 305.18%, which is 253 percentage points higher than the biotech industry average of 52.16%.

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 28.5%, which is -24 percentage points lower than the biotech industry average of 52.16%.

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

Carisma Therapeutics (NASDAQ:CARM) has an annual dividend yield of 15.28%, which is -37 percentage points lower than the biotech industry average of 52.16%.

Carisma Therapeutics's dividend payout ratio of -9.6% indicates that its high dividend yield might not be sustainable for the long-term.

Biotech stocks were down -0.9% in the last day, and up 0.5% over the last week. Tharimmune was the among the top losers in the biotechnology industry, dropping -72.36% yesterday.

Tharimmune shares are trading lower after the company announced pricing of a $10 million public offering.

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

Fortress Biotech (NASDAQ:FBIO) is the most undervalued biotech stock based on WallStreetZen's Valuation Score. Fortress Biotech has a valuation score of 100, which is 81 points higher than the biotech industry average of 19. It passed 7 out of 7 valuation due diligence checks.

Fortress Biotech's stock has dropped -81.34% in the past year. It has underperformed other stocks in the biotech industry by -54 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 81 points higher than the biotech industry average of 19. It passed 7 out of 7 valuation due diligence checks.

Arcturus Therapeutics Holdings's stock has gained 58.61% in the past year. It has overperformed other stocks in the biotech industry by 86 percentage points.

Aprea Therapeutics (NASDAQ:APRE) is the third most undervalued biotech stock based on WallStreetZen's Valuation Score. Aprea Therapeutics has a valuation score of 71, which is 52 points higher than the biotech industry average of 19. It passed 5 out of 7 valuation due diligence checks.

Aprea Therapeutics's stock has dropped -49.38% in the past year. It has underperformed other stocks in the biotech industry by -22 percentage points.