he rising prevalence of chronic maladies, such as cancer and diabetes, is also driving an increasing need for the development of new, advanced drugs. In addition, technological innovations and rising investment in this space should keep bolstering the industry’s growth. According to a Global Market Insights report, the biotechnology market is expected to grow at a 9.4% CAGR between 2021 – 2027.
Given this backdrop, we think biotech companies ASLAN Pharmaceuticals Limited (ASLN), Aquestive Therapeutics, Inc. (AQST), and Aravive, Inc. (ARAV) possess immense growth potential based on their innovative product portfolios. And Wall Street analysts expect shares of these companies to rally significantly in the near term.