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Will the Biotech sector sustain its momentum in 2024?

Ryan Hasson
Written by Ryan Hasson | Reviewed by Don Miller
January 4, 2024

Key Points

  • Biotech's iShares ETF (IBB) experienced a near 4% upswing on the year's first trading day, outshining struggling sectors.
  • The IBB ETF now faces critical resistance at $138 after a robust three-month climb.
  • AMGN, VRTX, and GILD, the top holdings in the ETF, significantly impact the sector's direction based on their individual performances.
  • Five stocks to consider instead of iShares Biotechnology ETF.

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Should You Invest $1,000 in iShares Biotechnology ETF Right Now?

Before you consider iShares Biotechnology ETF, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and iShares Biotechnology ETF wasn't on the list.

While iShares Biotechnology ETF currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

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Ryan Hasson
About The Author

Ryan Hasson

Contributing Author

Technical Analysis, Momentum Trading, Risk Management

Learn More about Ryan Hasson
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Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Amgen (AMGN)
4.3077 of 5 stars		$289.98-0.1%3.28%38.41Hold$309.22
Gilead Sciences (GILD)
4.7533 of 5 stars		$113.00+0.5%2.80%305.41Moderate Buy$110.55
Vertex Pharmaceuticals (VRTX)
4.26 of 5 stars		$446.15-1.0%N/A-202.80Moderate Buy$515.04
iShares Biotechnology ETF (IBB)N/A$127.59+0.5%0.30%23.96Moderate Buy$127.59
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