3 Nasdaq Biotechs With New 52-Week Highs

Biotech stocks are having a bad year with the major biotech ETF trending downward for months now — but at least 3 Nasdaq-traded biotechnology companies are now hitting new 52-week highs: Applied Therapeutics, Ionis Pharmaceuticals and Vertex Pharmaceuticals
VRTX
have been bucking the trend for the sector.

Although each sector and each stock have other factors, a lot of biotech’s general malaise this year is likely related to the effects of higher interest rates lasting for longer than expected. The anticipated earnings of analysts tend to keep coming in at lower than anticipated and equities then look less attractive.