Centessa Pharmaceuticals (CNTA) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.
Why do you want to consider biotech stocks? Simply, the narrative comes down to numbers and a possible rotation. First, the hard data supports bullishness in biotech stocks. According to Grand View Research, the underlying global industry reached a valuation of $1.55 trillion last year. Moving forward, experts project that the sector will expand at a compound annual growth rate (CAGR) of 13.96% from 2024 to 2030. At the culmination point, the space may be worth $3.88 trillion. Second, a sector r