Are These The Top 3 Coronavirus Stocks To Buy Or Sell Right Now?
Shares of companies involved in the coronavirus fight have been leading stock market gains over the past few months. Investors see these biotechnology or pharmaceutical companies in headlines so often that some analysts call them ‘coronavirus stocks’. And when most of the attention is on the coronavirus programs, investors are looking for the top coronavirus stocks to buy. Investors are wondering if now is still a good time to invest. After all, quite a number of coronavirus stocks have already soared this year. And some even delivered meteoric gains in a span of a few months or weeks.
Coronavirus stocks have been all over investors’ minds for obvious reasons. This investment thesis centered around potential vaccines, treatments, and testing kits related to COVID-19. Many have made a fortune by investing in vaccine stocks like Novavax (NVAX Stock Report) or Vaxart (VXRT Stock Report), which both delivered thousands of percentage gains just this year. Many experts believe that the prospects for bigger returns in the future are not diminished yet. In fact, many are bullish that the clinical trials over the coming months could drive top coronavirus stocks higher. With that in mind, do you have this list of coronavirus stocks to buy on your watchlist?
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Top Coronavirus Stocks To Buy [Or Sell] Now: Moderna
If you want to buy a leading vaccine candidate in the market, Moderna (MRNA Stock Report) could be right up your alley. Shares of Moderna gained on Wednesday’s intraday trading after the company’s experimental COVID-19 vaccine had triggered antibodies in elderly patients. The antibodies that were produced were higher than those seen in people who have recovered from the novel coronavirus. In addition, the vaccine also appears to be well tolerated, with no serious side effects shown.
News of Moderna’s vaccine candidate has been consistently positive, with all clinical data so far indicating that it is efficacious. “These data are consistent with our perspective that responses in older patients after mRNA-1273 treatment will likely be in line with what was seen in younger populations,” SVP Leerink’s Mani Foroohar told investors on Wednesday, “and while safety signals may emerge in larger studies/with longer follow-up, this applies across all age groups.“
This is the first time that Moderna has released data about how its vaccine candidate has performed in an older patient population. Shares of MRNA have climbed more than 266% year-to-date.
Top Coronavirus Stocks To Buy [Or Sell] Now: Abbott Labs
One of the reasons why the world fails to contain the novel coronavirus is because of the lack of reliable test kits. Don’t be surprised that it is still an issue today even though we are 9 months into the pandemic. The biggest issues we have with the test kits today have been speed and cost. The good news is, Abbott Laboratories (ABT Stock Report) seems to have them covered. And the most interesting thing is, the company even provides a phone app for customers who need to prove that they are free from COVID-19. Abbott’s BinaxNOW COVID-19 Ag Card test can generate a result in 15 minutes and costs $5 per sample.
The company’s revenue has been growing for the past three years. Earnings have also been strong. The company’s molecular diagnostics business posted a 234% gain in sales in the most recent quarter thanks to COVID-19 testing. Reports also said that the company plans to ship tens of millions of tests in September. It will ramp up to 50 million tests a month at the beginning of October.
Of course, the test kit isn’t perfect, but with a sensitivity of 97.1% for $15, I wouldn’t complain. With the coronavirus pandemic continuing globally, the demand for reliable test kits has never been more pronounced. That said, could ABT stock’s rally extend into next month?
Top Coronavirus Stocks To Buy [Or Sell] Now: Inovio Pharmaceuticals
Inovio Pharmaceuticals (INO Stock Report) first gained investors’ attention back in April. That’s when it was one of the first companies to begin human trials for its investigational coronavirus vaccine. The company’s coronavirus vaccine candidate INO-4800 is the primary focus of investors. Should the vaccine be successful in phase 2 clinical testing, Inovio would be one of the best coronavirus stocks to watch alongside with other existing phase 3 biotech stocks. If it goes on to eventually win regulatory approval, there is no stopping the stock from advancing further.
As much as investors want to see Inovio succeed in the upcoming clinical trials for its COVID-19 vaccine candidate, the company’s other weapon is the immunotherapy candidate VGX-3100. Inovio is currently evaluating the candidate in two phase 3 clinical studies as a potential treatment for human papillomavirus (HPV)-related precancerous cervical dysplasia, also known as high-grade squamous intraepithelial lesions (HSIL).
There currently aren’t any drugs approved by the Food and Drug Administration for treating cervical dysplasia. As such, should the phase 3 trials be successful in the fourth quarter, it could be a huge valued driver to the company. If it receives approval, the drug could generate peak annual sales of more than $600 million. With that in mind, INO stock certainly isn’t a one-trick pony