Biotech stocks are stocks of companies that are involved in the research and development of new drugs, medical devices, and other health-related technologies. Biotech investors like these stocks for many reasons, but most importantly because they offer the potential for high growth. The advantages of investing in biotech stocks include the potential for high returns, the possibility of diversification, and the opportunity to invest in cutting-edge companies. Notably, some of the biggest biotech companies in the stock market today are firms like Johnson & Johnson (NYSE: JNJ), Eli Lilly & Company (NYSE: LLY), and AbbVie Inc. (NYSE: ABBV) just to name a couple.
However, there are also some risks associated with biotech investing, including the potential for loss, regulatory risk, and political risk. Nevertheless, for investors with a high tolerance for risk, biotech stocks can offer a unique opportunity to profit from the rapid advances being made in the field of biotechnology. If reading this has you keen on investing in the biotech sector, here are three names to watch in the stock market this week.
Biotech Stocks To Watch Right Now
- Gilead Sciences Inc. (NASDAQ: GILD)
- BioMarin Pharmaceutical Inc. (NASDAQ: BMRN)
- Pfizer Inc. (NYSE: PFE)
1. Gilead Sciences (GILD Stock)
First up, we’re going to talk about Gilead Sciences (GILD Stock). For starters, Gilead Sciences is a leading biopharmaceutical company that specializes in the development and commercialization of innovative medicines. The company’s focus is on curing viral diseases, with a particular emphasis on HIV/AIDS, hepatitis B, and hepatitis C.
Meanwhile, the company currently has an annual dividend yield for shareholders of 4.73%. In addition, Gilead closed Friday’s trading session at $61.69 per share.
GILD Recent Stock News
Moreover, just this month, Gilead announced the completion of its acquisition of MiroBio, a privately held U.K.-based biotechnology company. In detail, Gilead paid $405 million in cash for MiroBio’s proprietary discovery platform and the entire portfolio of immune inhibitory receptor agonists.
Flavius Martin, Executive Vice President, Research, Gilead Sciences said this about the acquisition, “Inflammation is a key area of focus for Gilead, and MiroBio’s novel discovery platform technology and pipeline provides the opportunity to develop potentially best-in-class large molecule therapeutics to help patients with currently unmet medical needs.“
2. BioMarin Pharmaceutical (BMRN Stock)
Following that, BioMarin Pharmaceutical (BMRN) is a global biopharmaceutical company. The company develops and commercializes innovative therapeutics for patients with serious and life-threatening rare genetic disorders.
Separate from that, shares of BMRN are set to open this upcoming trading week at $84.77 per share. In addition, BMRN currently does not offer a stock dividend for investors.
BMRN Recent Stock News
Just last month, BioMarin Pharmaceuticals announced its second quarter 2022 financial results. In the report, BMRN reported record revenues for Q2 2022 at $533.8 million with earnings of $0.33 per share. This came in better than the analysts’ consensus earnings estimate of $0.20 per share with revenue of $522.5 million.
In addition to that, BioMarin raised its full-year 2022 forecast. Specifically, the company commented it now estimates 2022 revenue of $2.06 billion to $2.16 billion. Previously, BMRN announced guidance of $2.05 to $2.15 billion for the full-year 2022.
Jean-Jacques Bienaimé, Chairman and Chief Executive Officer of BioMarin said this about the quarter, “We also achieved many other significant milestones in the second quarter, including the CHMP’s positive opinion for conditional marketing authorization of Roctavian, the first gene therapy to be recommended for approval in Europe for hemophilia A.“
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3. Pfizer (PFE Stock)
Lastly, Pfizer Inc (PFE) is a pharmaceutical company. In brief, Pfizer’s research and development focus is on therapeutics, vaccines, and diagnostics. The company develops and manufactures a broad range of medicines, including prescription and over-the-counter drugs. Pfizer’s primary businesses are pharmaceuticals, biologics and vaccines, consumer healthcare, and animal health.
As it stands, PFE shareholders enjoy an annual dividend yield of 3.66%. As of Friday’s closing bell, shares of Pfizer stock are trading at $43.76 a share.
PFE Recent Stock News
This month, Pfizer announced its fourth-quarter 2022 dividend. Diving in, the company’s Board of Directors declared a 4th quarter 2022 dividend of $0.40. This is payable on December 5, 2022, to common stock shareholders of record at the close of business on November 4, 2022. What’s more, this fourth-quarter 2022 cash dividend will be the 336th straight quarterly Pfizer has paid a dividend.