For investors seeking momentum, iShares Biotechnology ETF (IBB Quick QuoteIBB - Free Report) is probably on the radar. The fund just hit a 52-week high and is up 25% from its 52-week low price of $11.83/share.

But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed:

IBB in Focus

iShares Biotechnology ETF provides exposure to 227 U.S. biotechnology and pharmaceutical companies by tracking the NYSE Biotechnology Index. It charges 45 bps in annual fees (read: all the Healthcare ETFs here).

Why the Move?

The biotech corner of the healthcare sector has been an area to watch lately, with the stocks staging a strong comeback at the start of 2024. The gains are driven by multibillion-dollar deals, upbeat clinical results and cutting-edge medical advances like CRISPR gene-editing hitting prime-time.

More Gains Ahead?

Currently, IBB has a Zacks ETF Rank #2 (Buy) with a High risk outlook, suggesting that the outperformance could continue in the months ahead. Many spaces that make up this ETF have a strong Zacks Industry Rank. So, there is definitely some promise for those who want to ride this surging ETF a little further.