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4 Top Biotech Stocks To Watch In October 2021

Do these biotech stocks have huge upside potential?

top biotech stocks

Biotech stocks are among some of the most intriguing investments in the stock market. This is an industry that includes companies that develop drugs and diagnostic technologies for the treatment of diseases and medical conditions. However, these products must go through rigorous and time-consuming trials before potentially obtaining approval from the U.S. Food and Drug Administration (FDA). Well, wouldn’t this take years before knowing if the drug will pay off? You’re probably right. That said, you will likely be rewarded handsomely once the drug gets its approval. 

Since the onset of the global pandemic, many biotech companies have gained traction among investors. Companies such as AstraZeneca (NASDAQ: AZN) and Pfizer (NYSE: PFE) invested heavily into developing coronavirus vaccines. And within a year, we were able to see the fruit of their labor. Now, this has given a sense of hope to prospective biotech investors. With some careful due diligence, investing in the biotech industry may not be as risky as it is made out to be. With all this in mind, here is a list of four biotech stocks to watch in the stock market today. 

Best Biotech Stocks To Buy [Or Sell] In October 2021

Mirum Pharmaceuticals

First up, we will be looking at one of the biotech companies making strides lately, Mirum Pharmaceuticals. In detail, the company focuses on the development of a late-stage pipeline of novel therapies for liver diseases. Also, it targets diseases that have a high unmet medical need. MIRM stock has risen over 20% over the past month. So let us see what has been the source of optimism among investors.

For starters, the company announced the submission of a Marketing Authorization Application for the treatment of cholestatic liver disease in patients with Alagille syndrome (ALGS) to the European Medicines Agency (EMA) in mid-September. This presents an opportunity for Mirum to deliver the first-ever pharmacologic treatment option for this devastating disease. 

A more recent development would be its recent announcement on Wednesday regarding oral drugs becoming the first U.S.-approved therapy for treating itching in patients with ALGS. Therefore, this string of positive development has gotten investors excited about the company. With that in mind, do you think MIRM stock will have more room to run?

Source: TD Ameritrade TOS

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Moderna 

By now, everyone would be familiar with Moderna. Sure, the company made its name through its COVID-19 vaccines. However, that is not all it has to offer and it has every intention to expand its product offering. Moderna has its products centered around transformative medicines based on messenger RNA (mRNA). In detail, its mRNA medicines aim to direct the body’s cells to produce intracellular membrane or secreted proteins to address a range of diseases. 

Yesterday, the company announced that it is investing in a new science center in Cambridge, Massachusetts. This new center will be known as the Moderna Science Center. The new site will include custom spaces for leading-edge research and development. Furthermore, it hopes to promote scientific and non-scientific spaces to maximize collaboration with its partners. Safe to say, this will be the building block for the company’s next chapter of discovery. 

As for news regarding its coronavirus vaccine, it appears that the company has successfully entered the Peruvian market. Last week, Moderna announced a supply agreement with Peru for 20 million doses of its coronavirus vaccine. That said, it should be noted that the vaccine is not currently approved for use in Peru. Nevertheless, the country would almost certainly only purchase the vaccines with plans of approval in mind. Given these considerations, would MRNA stock still be a buy for you?

Source: TD Ameritrade TOS

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Incyte

Incyte Corporation is a biopharmaceutical company that focuses on the discovery, development, and commercialization of therapeutics. Its portfolio ranges from preclinical to late-stage development, and commercialized products. It’s no secret that the company’s stock has been trading sideways with little momentum this year. That said, Incyte has announced several positive developments this week. Could this be the catalyst that it needs to attract the attention of investors?

On Monday, Incyte and Syndax Pharmaceuticals (NASDAQ: SNDX) announced that they will be collaborating to develop and commercialize axatilimab. The drug is Syndax’s anti-CSF-1R monoclonal antibody. The partnership boasts the potential to significantly expand and maximize axatilimab as a treatment across multiple lines in chronic graft-versus-host disease (cGVHD), and fibrotic diseases such as idiopathic pulmonary fibrosis. 

On top of that, the company and Eli Lilly and Co (NYSE: LLY) also provided a positive update regarding the results from its two pivotal Phase 3 trials (BRAVE-AA1 and BRAVE-AA2). The results showed that once-daily OLUMIANT(baricitinib) 4-mg was superior to placebo in achieving significant scalp hair regrowth as early as 24 weeks in adults with severe alopecia areata. Given these considerations, do you think INCY stock would be a viable long-term investment? 

Source: TD Ameritrade TOS

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BioNTech 

To sum up the list, we will be looking at a German-based clinical-stage biotech company, BioNTech. Put simply, the company focuses on patient-specific immunotherapies for the treatment of cancer and other serious diseases. As some of you may be aware, BioNTech is the partner of Pfizer to produce the COMIRNATY coronavirus vaccine.

Well, its coronavirus vaccine recently received the U.S. FDA authorization for emergency use as a booster dose. The booster dose is to be administered at least six months after completion of the primary series. Even as we have a better understanding of the disease now, we should not be resting on our laurels. Hence, booster doses will have an important role to play in addressing the continued threat of COVID-19.

In addition, BioNTech also announced today that the first colorectal cancer patient has been treated with its individualized mRNA cancer vaccine BNT122 in Phase 2 clinical trial. The trial evaluates the efficacy of BNT122 compared to watchful waiting after surgery and chemotherapy. After all, this is the second deadliest cancer worldwide that requires more medical attention. All things considered, would you consider adding BNTX stock to your portfolio?

Source: TD Ameritrade TOS

By Amos C

Amos is the global markets correspondent for StockMarket.com. His boots on the ground insight into emerging markets has given him the unique ability to stay ahead of new market trends and deliver timely data when it matters most. Based in Asia, Amos has made a point to monitor the foreign markets closely, dissect stock market trends and then apply them to the North American markets; in addition to global markets.

Amos has a deep-rooted background in foreign exchange and commodities. His previous experience working within the cryptocurrency arena has given him the advantage to identify the fast-moving stock market and financial trends. Amos calls Hong Kong home and has been a financial content writer for the last 3 years.

He has managed teams of international media strategists and financial writers to cover all top stories in the stock market each day. His skills include his tireless drive to find the most valid information and actionable details that investors can use to formulate valid decisions on stocks to buy or stocks to avoid. Furthermore, Amos’ ability to cover trending stories across the globe brings StockMarket.com a fresh perspective on key data and how it not only affects the North American markets but also how it could translate to the world markets alike.

Most of the time you can find him diving into corporate filings, focusing on fundamentals that could influence major market moves. One of his passions is researching technology and biotechnology stocks. Some of the most cutting-edge innovations have stemmed from these industries. While many don’t become industry blockbusters, the processes and applications of these innovations has led to some of the biggest developments known to man in the modern age. As a global correspondent, Amos has been able to see both sides of the story as it relates to world news and offers a true, personal approach, cutting through the noise of the mass media. He was integral in reporting on the Hong Kong uprising and doing first-hand research on international sentiment from the novel coronavirus.

In his free time, Amos is an avid fan of music and art and enjoys attending concerts.

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