Ennui could be the best way to describe the broader biotech industry these days. That’s because the Federal Reserve’s path to higher rates has crimped enthusiasm for the high-growth industry, its income potential and its ability to raise research funding. As a result, investors in the industry have felt plenty listless themselves.
But. all of that could be changing.
Like many segments of the market, the Fed’s recent action to cut rates is breathing new life into the biotech industry in a big way. The best part is that with biotech, investors may be able to get tech-like growth at a more reasonable price — not to mention plenty of income potential as well.
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