U.S. biotech stocks have been on the up recently. The S & P Biotechnology Select Industry Index is up greater than 6% up to now week. The Nasdaq Biotechnology Index , meanwhile, is up almost 4% over the identical period and eight.5% over the past month. “Biotech looks to be strengthening materially in recent days, and is a key a part of the explanation why Healthcare likely shows strong 4Q [fourth quarter] outperformance,” Mark Newton, head of technical strategy at research firm Fundstrat, wrote in a Nov. 14 note. Newton added that the “biotech breakout” is value following, as this sub-sector is the strongest inside health-care immediately — and he expects the trend to proceed into December. To discover biotech stocks that look low cost and are expected to rally looking ahead, CNBC Pro screened the iShares Biotechnology ETF on FactSet. The ETF, which tracks U.S. biotech stocks, has jumped around 10% up to now month, and risen greater than 4% up to now week. It’s down 11% year-to-date, but has outperformed the S & P 500 , which has tumbled about 17% in the identical period. CNBC Pro’s screen used the next criteria: A forward price-to-earnings ratio, which looks at estimated earnings for the following 12 months, of lower than 10. A low P/E ratio could mean a stock is undervalued. Upside to consensus price goal of 10% or more. A buy rating from a big variety of analysts covering the stock on FactSet. Eight stocks turned up on the screen, out of the 366 ETF constituents. Two stocks stood out as having average potential upside of greater than 100%, and a buy rating from all analysts who cover them. They’re Cullinan Oncology and iTeos Therapeutics . One stock — Chimerix — had a median price goal upside of 266% from analysts, 83% of whom gave it a buy rating. Wedbush Securities in a Nov. 4 note rated Chimerix outperform, noting that it ended the quarter with around $285 million in money and money equivalents – enough to fund its operations until 2026, based on the investment firm. “We proceed to imagine CMRX has a pretty risk/reward profile, admittedly for patient investors,” Wedbush’s analysts wrote. Covid vaccine maker BioNTech also showed up on the screen, with a forward PE ratio of 4.5, although only 44% of analysts have a buy rating on the stock. — CNBC’s Patti Domm contributed to this report.