Biotech ETF (BBH) Hits New 52-Week High
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 25 2024
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Source: NASDAQ.COM
- VanEck Biotech ETF BBH Hits 52-Week High: The ETF has reached a 52-week high and surged 21.4% from its low.
- Outlook on the ETF: Investors are looking at the potential for more gains in the near future.
- Composition of the ETF: The fund tracks the MVIS US Listed Biotech 25 Index, focusing on companies involved in genetic analysis and drug development.
- Amgen Stock Influence: Amgen stock makes up 17% of the BBH fund, showing strong performance recently due to positive data on a weight loss injection.
- Positive Forecast: BBH has a Zacks ETF Rank #2 (Buy) and a positive weighted alpha, indicating a possible further rally in the near term.
Analyst Views on BBH
Wall Street analysts forecast BBH stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BBH is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 197.202
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Current: 197.202
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
