Top Health Care Stocks To Buy [Or Sell] Right Now
Health care stocks continue to show long-term value for investors in the stock market. One of the reasons could be that health care is always in demand. Health care companies provide and sell a wide range of products after all. Some might even say that the sector is among the best to invest in now. For one thing, the industry is home to countless companies who work towards improving the quality of our lives. They do so via constant innovations in the medical tech and biotech fields. Treatments that we see today would not have been possible a mere 5 years ago.
For instance, health care companies like Moderna (NASDAQ: MRNA) and Pfizer (NYSE: PFE) has been making headlines in the last few months. As both companies announced a new type of vaccine to deal with the coronavirus, they continue to be at the center of attention. MRNA stock has enjoyed gains of over 200% in the last year. With the potential that mRNA vaccines have shown, the company has now shifted its technology to potentially treat cancer and other infectious diseases. Given the endless opportunities in the health care industry, should investors be on the lookout for these top health care stocks?
Health Care Stocks To Watch Right Now
- BioNTech SE (NASDAQ: BNTX)
- Nano-X Imaging Ltd (NASDAQ: NNOX)
- bluebird bio Inc (NASDAQ: BLUE)
- International General Insurance Holdings Ltd (NASDAQ: IGIC)
First up, BioNTech needs no introduction as it partners with Pfizer for its COVID-19 vaccine. The company’s stock has been on an upward trend since late last month. This came after the German biotech announced its fourth-quarter and full-year 2020 results. From the report, revenue came in at 354.4 million euros. This result reflected a huge 1,134% year-over-year increase. And that’s not all, the company’s bottom line also improved dramatically. To put things into context, BioNTech announced a net profit of 366.9 million euros in the fourth quarter, while the same period last year saw a net loss of 58.2 million for the company.
It’s no secret that its fourth-quarter was all about its vaccine candidate BNT162b2. The company currently shares its net profits equally with Pfizer for sales of the vaccine globally, except in China. If we are to look closely, its Q4 result may just be the tip of the iceberg. Why? The company expects to generate revenue of around 9.8 billion euros from the current supply deals for BNT162b2, which total roughly 1.4 billion doses.
In addition, the company is also reportedly working on a third booster to increase efficacy against the South African variant. With the company continuing to move forward, could BNTX stock be a top health care stock to watch right now?
Nano-X Imaging Ltd
Another trending healthcare stock in focus now would be Nano-X. For those unfamiliar, it is an Israel-based company that develops a digital X-ray source enabling a cost reduction of imaging systems. The company’s goal is to drive early detection and preventive healthcare as a new standard of care. With the medical field being heavily reliant on X-ray imagings, Nano-X is well-positioned moving forward along with new medical advancements. NNOX stock has skyrocketed more than 17% on Monday. The huge jump came after the company announced that it received the 510(k) clearance from the U.S. FDA for its single-source Nanox.ARC digital X-ray technology.
Investors have certainly reacted positively to the news. But that’s not all. The company remains on track to submit a 510(k) application to the FDA for its multi-source Nanox.ARC and the Nanox.CLOUD in 2021. If approved, the multi-source Nanox.ARC is expected to be deployed broadly across the globe.
Not only are the company’s systems smaller and require much less energy to operate. They’re also a lot less expensive than current X-ray devices. With all the optimism surrounding NNOX stock, would you be one of its investors?
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bluebird bio Inc.
Next up, we have biotech company bluebird bio Inc. The company is a pioneer in the field of gene therapy, developing gene and cell therapies. Bluebird does so for patients facing potentially deadly severe genetic diseases and cancers. Aside from that, the company is also a gene therapy advocate working towards making it available to all in need.
At the moment, bluebird is currently working on treatments for cerebral adrenoleukodystrophy, sickle cell disease, β-thalassemia, and multiple myeloma (MM). Regarding its MM treatment, the company is collaborating with pharma giant, Bristol Myers Squibb (NYSE: BMY). The therapy is known as Abecma. In fact, BLUE stock could be in focus this week thanks to a regulatory update on Abecma.
Towards the end of March, the U.S. Food and Drug Administration (FDA) approved Abecma for use. Particularly, it is now the first-in-class B-cell maturation antigen (BCMA) directed cell therapy for relapsed or refractory MM. This positive news came after Abecma was found to be effective in 72% of clinical trial patients. Overall, this marks a major milestone for bluebird as its first treatment to be approved in the U.S. Not to mention, Abecma is also bluebird’s first oncology treatment to receive FDA approval. Given this groundbreaking development, it’s not surprising why investors are bullish on BLUE stock.
International General Insurance Holdings Ltd
International General Insurance or IGIC is a Jordan-based health care company that is primarily engaged in the business of insurance and reinsurance. It also underwrites a portfolio of specialty risks which includes energy, ports, and financial institutions. In brief, the company provides niche specialty line insurance to its clients.
The company was named “Reinsurance Company of the Year” at the Middle East Insurance Industry Awards last year. In addition, recent financial results showed across the board increase in gross written premiums (GWP) and profits. IGI’s GWP grew by 33.8% for the full year and full-year profit has risen by over 33% for the year 2020.
It’s safe to say, the company had a successful first year as a publicly traded company following its merger with Tiberius Acquisition Corporation in March 2020. The company revealed plans of launching in Malta to capitalize on market opportunities in Europe. This goes to show IGIC is expanding its reach in a world where healthcare is paramount. With that in mind, would you consider buying IGIC stock?