Are These The Best Biotech Stocks To Watch In June 2020?
Investors seeking to outperform the market might want to take a look at biotech stocks. It doesn’t matter if you like momentum, speculation, or just pure fundamentals. There are plenty of biotech stocks to watch in 2020. With that in mind, it’s important to understand what kind of trader you are.
When it comes to biotech stocks under $5, you’re likely going to be seeing a lot more speculation and breakouts here and there. Typically, these companies are either beginning to make a name for themself in the stock market or are early-stage biotech companies. Either way, these companies typically are in Phase 1 clinical trials or even in the preclinical stages.
For early-stage biotech stocks, the single most important factor to profit would be timing. But that’s easier said than done. We can’t possibly pay attention to all the news regarding biotech stocks all the time. What we can do is to take note of the development of vaccines and important dates of the clinical data. Or even speculate if the drug or vaccines will be FDA approved. That would increase our chances of winning certain bets with biotech stocks. Given the overwhelming sentiments about Covid-19, it does help to have some of the top biotech stocks in investors’ portfolios as a hedge. While some of the biotech stocks aren’t cheap, it’s up to investors to decide if they prefer small-cap or large-cap biotech stocks to trade right now.
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Best Biotech Stocks To Watch: Immuron Limited
There’s too much going on Immuron Limited (IMRN Stock Report) for it not to top the list. Share prices of IMRN made a whopping 800% return on Wednesday alone. This came after the company’s research partner, the Naval Medical Research Center (NMRC) has requested a pre-investigational new drug (IND) meeting with the FDA regarding the treatment for severe campylobacteriosis and ETEC infections (E-Coli).
Shares of IMRN was trading at $20.65 as of Tuesday’s closing. The massive breakout was 890.4% above Monday’s closing price of $2.10. Before this week, the thinly traded shares didn’t see much shares changing hands and had an average of 5,900 shares transacted daily. Could we expect IMRN stock to continue to push higher? Or is it another pop and drop? With that, this could be one of the best biotech stocks to watch this week.
Best Biotech Stocks To Watch: Vertex Pharmaceuticals
Shares of Vertex Pharmaceuticals (VRTX Stock Report) surged 2.2% to close at $270.85 a share on Tuesday. Among all, is Vertex one of the favorite biotech stocks to buy right now? Because it is profitable and is currently monopolizing the cystic fibrosis treatments. The company sells a total of four medicines with Trikafta being the latest to gain US approval. Essentially, Trikafta can now treat up to 90% of patients with lung disease. The remaining 10% of the patients will need another approach.
As such, the company is working with Moderna (MRNA Stock Report) to develop a treatment for the remaining 10% of cystic fibrosis patients. Vertex is also expanding beyond CF, with phase 2 programs targeting pain, alpha-1 antitrypsin deficiency (AATD), and APOL1- mediated kidney diseases. With a few more partnerships under the belt, Vertex is clearly trying to find another revenue stream before the CF drugs lose their monopoly. Judging from how Vertex manages its finances and how it strategizes the company for future growth, would VRTX stock be a top biotech stock to buy in 2020?
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[H2] Best Biotech Stocks To Watch: Novavax
Novavax (NVAX Stock Report) has become one of the most discussed stocks on Wall Street. The average daily trading volume says it all. So why is everyone talking about Novavax? Nearly every biotech company that announced a serious effort to develop a Covid-19 vaccine, treatment, or diagnostic test has benefited from increased attention. As for Novanax, it is one of the leaders when it comes to finding a Covid-19 vaccine.
Novavax’s most promising candidate, NVX-CoV2373 attracted CEPI to commit up to $384 million in funding, its biggest investment ever for a Covid-19 vaccine program. The company expects to report preliminary results from the Phase 1 study in July. It aims to quickly jump to a Phase 2 study afterward, if results are as good as the company expects. Shares of Novavax have gone up more than 80% in one month. Could we see NVAX stock to continue its rally in the run up to its data readout in July?