The biotech sector includes companies that develop drugs and diagnostic technologies based on biology. These firms often focus on developing innovative treatments for various medical conditions. Investments in this sector are driven by the potential for significant breakthroughs that can lead to substantial financial returns. However, the sector is known for its high research and development costs and extended periods of testing before potential market release.

Investing in biotech stocks offers the potential for high returns, especially if a company successfully brings a new treatment to market. Biotech firms frequently operate at the cutting edge of scientific research, which can attract substantial investor interest. However, the sector is also characterized by volatility and risk. The high costs of development, coupled with the rigorous regulatory approval process, can impact profitability.

Moreover, the performance of biotech stocks is highly contingent on clinical trial results, which are unpredictable. A failed trial can lead to significant stock price declines. Nevertheless, for investors willing to accept higher risk, the biotech sector presents opportunities for considerable growth, particularly in areas of unmet medical need. That said, here are two biotech stocks to watch in the stock market today.

Biotech Stocks To Buy [Or Avoid] Today

Eli Lily & Company (LLY Stock)

biotech stocks to buy (LLY stock)

Starting off, Eli Lilly and Company (LLY) is a global healthcare leader that develops a wide range of pharmaceutical products. The company is popular for its contributions to insulin and antidepressant treatments, among others. The company focuses on a broad range of therapeutic areas including diabetes, oncology, immunology, and neurology, aiming to address some of the world’s most urgent medical needs.

This month, Eli Lilly & Company announced its findings from their SYNERGY-NASH phase 2 trial at the European Association for the Study of the Liver Congress 2024. The trial evaluated tirzepatide, a treatment for metabolic dysfunction-associated steatohepatitis (MASH) with advanced fibrosis. Results showed that tirzepatide was superior to placebo in resolving MASH, with over half of the patients experiencing fibrosis improvement at 52 weeks. Detailed results were also published simultaneously in The New England Journal of Medicine.

Year-to-date, shares of LLY stock are up 46.07% so far. Meanwhile, as of Monday’s closing bell, Eli Lily & Co. stock finished the day up another 1.77% at $865.00 per share.

[Read More] Top Dividend Stocks To Buy In June 2024? 2 In Focus

Regeneron Pharmaceuticals (REGN Stock)

biotech stocks to buy (regn stock)

Second, Regeneron Pharmaceuticals Inc. (REGN) is a biotechnology company that discovers, invents, develops, manufactures, and commercializes medicines for the treatment of serious medical conditions. Regeneron focuses on its targeted approach to antibody-based therapies. Particularly in areas such as rare diseases, cancer, ophthalmology, and inflammatory conditions.

At the end of last month, Regeneron Pharmaceuticals announced that the CHMP recommended EU approval for Dupixent® (dupilumab) to treat adults with uncontrolled COPD. This recommendation is based on data from two Phase 3 trials. These trials demonstrated that Dupixent reduces exacerbations and improves lung function in patients. If approved, Dupixent will be the first targeted therapy for COPD in the EU and the first new treatment approach in over a decade.

So far in 2024, shares of REGN stock are up 10.69% YTD. While, as of Monday’s closing bell, Regeneron Pharmaceuticals stock closed the day lower by 0.12% at $1,001.73 a share.

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