5 Top Health Care Stocks To Add To Your Radar This Week
For investors wondering why are stocks tanking in the stock market now, health care stocks could be worth looking at. On the whole, the ever-vital health care industry has and continues to play crucial roles during the coronavirus pandemic. From the more obvious vaccine-making names to the day-to-day health care providers, this is apparent. Even as the world aims to transition towards endemic living, there is more focus on health care now than ever. As people attempt to stay healthy amidst these trying times, investors could be considering jumping into this defensive sector in the stock market today.
For one thing, some of the top players in the health care scene today continue to draw attention. Namely, the likes of BioNTech (NASDAQ: BNTX) are among the industry players gaining attention this week. To point out, BioNTech’s latest quarterly earnings update seems to be turning heads across the board. In it, the coronavirus vaccine firm saw its revenue soar by 211% year-over-year. This would be thanks to sales from its coronavirus shot jointly developed with Pfizer (NYSE: PFE). All in all, the health care industry continues to power on despite the additional pressure from the endemic. On that note, here are five more to watch today.
Health Care Stocks To Buy [Or Sell] Today
- Moderna Inc. (NASDAQ: MRNA)
- Veru Inc. (NASDAQ: VERU)
- Biogen Inc. (NASDAQ: BIIB)
- Novavax Inc. (NASDAQ: NVAX)
- UnitedHealth Group Inc. (NYSE: UNH)
Starting us off today, we have Moderna, a biopharmaceutical company that continues to advance programs in the field of messenger RNA (mRNA). In fact, the company has a pipeline of vaccines in the works after the huge success of its coronavirus vaccine. This would include an influenza and HIV vaccine that could prove to be game-changing as well. Last week, the company reported its first-quarter financials for 2022.
Diving in, it generated $6.1 billion in revenue, compared to $1.9 billion a year earlier. This increase is primarily due to the increase in its coronavirus vaccine sales.Net income for the quarter was $3.7 billion or a diluted earnings per share of $8.58. The company also ended the quarter with $19.3 billion in cash. “Beginning in the fall of 2022, our robust Phase 3 pipeline could lead to three respiratory commercial launches over the next two to three years. We also look forward to advancing our therapeutic programs and sharing proof-of-concept readouts on our rare genetic disease programs for propionic acidemia and methylmalonic acidemia, and on our personalized cancer vaccine program this year,” said Stéphane Bancel, Chief Executive Officer of Moderna. Given the impressive quarter, is MRNA stock worth investing in right now?
Veru is a biopharmaceutical company that develops novel medicines for the coronavirus and other viral diseases. It also develops treatments for breast and prostate cancers. Notably, its Sabizabulin drug has dual antiviral and anti-inflammatory effects. It is also being developed as a potential treatment for hospitalized coronavirus patients at high risk for acute respiratory distress syndrome. On May 2, 2022, the company announced that the FDA has granted the company a pre-emergency use authorization meeting on May 10, 2022, for the positive Phase 3 study for Sabizabulin.
Its findings indicate positive efficacy and safety results from a double-blind, randomized placebo-controlled trial. In the trial, it was shown that the drug candidate could reduce deaths by 55% in hospitalized patients. The Independent Data Safety Monitoring Committee unanimously recommended that the Phase 3 study be halted early due to efficacy, and they further remarked that no safety concerns were identified. Given this exciting piece of news, should you consider adding VERU stock to your portfolio?
Biogen is a health care company that develops innovative therapies for people living with serious neurological diseases worldwide. Accordingly, it is one of the world’s first global biotechnology companies and continues to be a leading health care company with its portfolio of treatments. The company is also commercializing biosimilars and is focusing on its neuroscience pipeline.
Last week, the company announced together with MedRhythms that they will develop and commercialize MR-004, an investigational prescription digital therapeutic for the potential treatment of gait deficits in multiple sclerosis (MS). The collaboration combines MedRhythms’ digital expertise with Biogen’s leadership in MS to address significant unmet patient needs. If approved, MR-004 has the potential to become the first prescription digital therapeutic for gait deficit in MS. With that being said, is BIIB stock a buy?
Another health care name to take note of in the stock market today would be Novavax. Overall, the biotech company specializes in the development of vaccines for serious infectious diseases. The like of which range from Ebola, influenza, respiratory syncytial viruses, and COVID-19, to name a few. For investors keen to jump on upcoming names in the coronavirus vaccine space, NVAX stock could be a viable play.
Speaking of its coronavirus shot, Novavax appears to be firing on all cylinders on this front. Just last week, the company made two key regulatory submissions. Firstly, on May 6, Novavax applied to expand the use of its vaccine in Australian and New Zealand teens aged 12 to 17 years. Secondly, the company made a similar application in Britain for adolescents aged 12 and older earlier in the week. With Novavax’s current momentum in mind, will you be keeping an eye on NVAX stock?
UnitedHealth Group Inc.
Topping off our list today is the UnitedHealth Group or UNH, for short. In brief, UNH is a multinational managed health care and insurance firm. As you can imagine the company primarily offers consumers health care solutions and insurance services. For a sense of scale, UNH serves 148 million individuals via its partnerships with governments, employers, and health care providers. Because of all this, investors looking for more defensive names in the health care space may be considering UNH stock.
On the whole, the company appears to be going strong on the operational front as well. Just last month, UNH beat Wall Street’s estimates at the top and bottom line in its latest quarterly earnings release. Getting straight to it, the company is looking at earnings of $5.49 on revenue of $1.33 billion. For revenue, UNH is boasting commendable year-over-year gains of 14%. This, according to the company, is thanks to double-digit growth across its core Optum and UnitedHealthcare sections. This alongside UNH raising its full-year outlook would suggest that the company is not slowing down anytime soon. As such, would UNH stock be a top pick in your books?