U.S. biotech stocks have been on the up recently. The S & P Biotechnology Select Industry Index is up more than 6% in the past week. The Nasdaq Biotechnology Index , meanwhile, is up almost 4% over the same period and 8.5% over the past month.
Pro screened the iShares Biotechnology ETF on FactSet. The ETF, which tracks U.S. biotech stocks, has jumped around 10% in the past month, and risen more than 4% in the past week. It's down 11% year-to-date, but has outperformed the S & P 500 , which has tumbled about 17% in the same period. Pro's screen used the following criteria: A forward price-to-earnings ratio, which looks at estimated earnings for the next 12 months, of less than 10. A low P/E ratio could mean a stock is undervalued. Upside to consensus price target of 10% or more. A buy rating from a significant number of analysts covering the stock on FactSet. Eight stocks turned up on the screen, out of the 366 ETF constituents.
's Patti Domm contributed to this report.
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