Makes sense to me as biotech stocks are not value stocks. Value stocks, by definition, are those stocks which trade very close to book value and generate good revenue and profits.
Biotech stocks have all their value in intellectual property which doesn't show up on a balance sheet. Most all of their value is in intellectual property and is really unknown/debatable.
These sorts of lists are generally computer generated using some algorithm. This can be fine for an initial screening but these also miss the finer points in biotechs stocks. Finally, these lists use current data but generally not future outlooks...............and biotechs are always about the future.
Would be interesting to see this listing of stocks summarized by industry. Most likely those with most of their value in intellectual property would be ranked much lower.