Are These 2 Top Biotech Stocks On Your July Watchlist?
There are many biotech stocks rising due to the coronavirus pandemic. Since this virus has infected millions across the world, finding a feasible vaccine is important. Top biotech stocks developing treatments for the coronavirus have been trending in the stock market. Many companies had little market relevance at all before the virus. Now those companies are seeing lots of momentum.
There are many biotech companies competing to make the first widely distributed vaccine. The goal is to treat patients as soon as possible. Whichever biotech company finds the best solution will see its profits soar. Biotech stocks rise when potential for a company does. So if one company finds a more effective solution, another biotech stock may drop.
Every day new news is released towards finding a coronavirus vaccine. So the market for biotech stocks is volatile, with lots of potential. The two biotech stocks to watch in this article are related to the coronavirus vaccine. These biotech stocks have been rising due to progress towards this vaccine.
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Top Biotech Stock To Buy [Or Avoid] In July: Novavax
This first biotech stock that has been trending in the market is Novavax Inc. (NVAX stock report). Novavax was founded in 1987 and is based in Maryland. The company focuses on discovering, developing, and commercializing vaccines. So it’s as expected that Novavax is working towards developing a coronavirus vaccine. Novavax received a contract from the US Department of Defense for creating its NVX CoV2373 vaccine back in April. It plans to create more than 1 billion doses of the drug starting in 2021.
Shares of NVAX stock have been on the rise since this news came out. NVAX stock price started the year at around $4 a share. Well, things have drastically changed for NVAX stock since. As of June 26th, NVAX stock price is $79 a share on average. This is an overall increase of around 1875% for NVAX stock. This drastic increase for NVAX stock price is all due to its coronavirus vaccine development efforts. This means that NVAX has reached its 52 week high on June 26th, 2020.
If Novavax continues to make progress towards a coronavirus vaccine, NVAX stock will continue to rise. Novavax is already showing great signs towards being a main contender of spreading a vaccine. This is why investors believe in NVAX stock. It will be fascinating to watch how NVAX stock price moves in the market in the future.
Top Biotech Stock To Buy [Or Avoid] In July: BioNTech SE
The next biotech stock to watch due to its recent efforts is BioNTech SE (BNTX stock report). BioNTech is a Germany based company that was founded in 2008. It focuses on developing and commercializing immunotherapies for cancer and other diseases. Recently BioNTech partnered up with Pfizer on Covid-19 vaccine development. It also received 100 million euro debt financing to fund the vaccine production.
Shares of BNTX stock have been rising exponentially. BNTX stock price was around $30 a share before the pandemic began. As of June 26th, BNTX stock price is $58 a share on average. This rapid increase in share price is due to BioNTech’s advancements towards a coronavirus vaccine. If the development brings more success, BNTX stock will rise even higher. This increase for BNTX stock price was around 93% over the last few months. This says a lot for the potential of BNTX stock in the market as time goes on.
These two biotech stocks have been making more advancements than many others. Both biotech companies have seen great increases in its financials because of this. NVAX stock and BNTX stock are two biotech stocks to watch due to their potential further momentum. The market could change if another biotech company makes better progress. For now, these two biotech stocks have been trending on the market and should be watched.