Biotech stocks represent shares of companies that specialize in the development and commercialization of drugs, therapies, and other medical products based on biological and chemical research. Biotech companies often focus on treating diseases that currently have no cure. Such as cancer, rare genetic disorders, and neurological conditions.
The biotech sector can offer significant growth potential for investors due to the potential for new drugs and therapies to gain regulatory approval and become commercial successes. However, biotech stocks can also be highly volatile. This comes as many companies have high research and development costs and are subject to regulatory risks. The success of biotech companies is often tied to the success of their drug candidates. Which can experience setbacks and failures during the lengthy and expensive process of clinical trials.
When evaluating biotech stocks, investors should consider factors such as the company’s financial health, the strength of its research and development pipeline, the competitive landscape, and the regulatory environment. It is also important to stay informed about developments in the industry. This includes advancements in medical research, regulatory changes, and emerging technologies. By conducting thorough research and due diligence, investors can identify biotech stocks that have the potential to perform well and add value to their portfolios. With that, here are three biotech stocks to watch in the stock market ahead of March 2023.
Biotech Stocks To Buy [Or Avoid] Now
- Merck & Company Inc. (NYSE: MRK)
- AbbVie Inc. (NYSE: ABBV)
- Biogen Inc. (NASDAQ: BIIB)
Merck & Company (MRK Stock)
Starting off, Merck & Company Inc. (MRK) is a global pharmaceutical company that develops and sells a wide range of drugs and vaccines across multiple therapeutic areas, including cancer, infectious diseases, and cardiovascular diseases.
At the beginning of the month, the company reported its 4th quarter and full-year 2022 financial and operating results. Diving in, Merck & Company notched in earnings of $1.62 per share with revenue of $13.8 billion. For context, Wall Street’s consensus estimate was earnings of $1.56 per share, and revenue estimates of $13.8 billion. Additionally, the company grew revenue by 2.3% versus the same period, the previous year.
In the last six months of trading, shares of MRK stock have gained by 23.11%. Meanwhile, as of Friday’s closing bell MRK stock closed the after-hour trading session at $110.32 per share.
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AbbVie (ABBV Stock)
Next, AbbVie Inc. (ABBV) is a biopharmaceutical company that develops and sells drugs across a range of therapeutic areas, including immunology, oncology, and neuroscience. The company has a strong focus on developing and commercializing new treatments for chronic diseases.
This month, AbbVie announced that its board of directors has declared a quarterly cash dividend of $1.48 per share for its stockholders. The dividend is payable on May 15, 2023, to stockholders of record on April 14, 2023. AbbVie has a strong history of increasing its dividend, having done so by over 270% since its inception in 2013.
Over the last six months of trading, shares of ABBV stock are up by 12.00%. Additionally, as of Friday’s close, ABBV stock is trading at $152.71 a share.
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Biogen (BIIB Stock)
Lastly, Biogen Inc. (BIIB) is a biotechnology company that develops and commercializes therapies for neurological disorders such as multiple sclerosis, Alzheimer’s disease, and spinal muscular atrophy. The company has a strong focus on research and development and has several drugs in its pipeline that are in late-stage clinical trials.
Earlier in the month, Biogen Inc. and Sage Therapeutics Inc. announced that the U.S. Food and Drug Administration (FDA) has accepted the filing of a New Drug Application (NDA) for their investigational drug, zuranolone, which is being evaluated as a 14-day, rapid-acting, once-daily, oral treatment for major depressive disorder (MDD) and postpartum depression (PPD) in adults.
In the last six months of trading, BIIB stock has advanced by 35.97%. While, on Friday, shares of BIIB stock closed the day at $270.02 a share.
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