Top Biotech Stocks To Watch This Week
Some say that we are living in the golden age of biotechnology. Even if you disagree, there’s no denying that investors who have bet on biotech stocks have seen astronomical gains in the last year. These stocks have been highly sought after and have the potential to multiply in valuation overnight. The reason being that they are highly dependent on their clinical trial results and also hinge on regulatory approvals for their drugs and treatments.
There is certainly appeal for the sector given the attention it has received in the last year. With a raging pandemic, biotech companies raced to find the vaccine for the coronavirus. With that said, companies like Moderna (NASDAQ: MRNA) and Pfizer (NYSE: PFE) come to mind. Pfizer, for instance, has begun trials for its oral antiviral therapeutic agent to treat the coronavirus.
The company has also announced that it will be developing new vaccines on its own using the mRNA technology that was used to create the coronavirus vaccine that is now being distributed to the masses. Long-term investors would understand that the recent pullback in the sector is nothing to worry about as these companies have great prospects. As the pandemic had also encouraged many new traders to jump into the stock market, it also brought a slew of biotech stocks into the limelight. However, it can be quite a challenge to navigate between biotech stocks with strong growth potential. With that in mind, do you have a list of the best biotech stocks to watch today?
Best Biotech Stocks To Buy [Or Sell] Now
- Universe Pharmaceuticals Inc. (NASDAQ: UPC)
- Humanigen Inc. (NASDAQ: HGEN)
- Kazia Therapeutics Ltd. (NASDAQ: KZIA)
- Ionis Pharmaceuticals Inc. (NASDAQ: IONS)
Universe Pharmaceuticals Inc.
Universe is a pharmaceutical producer and distributor in China. In detail, it specializes in the manufacturing, marketing, sales, and distribution of traditional Chinese medicine derivatives products. The company’s products specifically target the elderly to address their physical conditions in the aging process and to also promote their general well-being. Impressively, the company also sells biomedical drugs, medical instruments, and dietary supplements. UPC stock closed up 38.18% at $5.61 a share.
There does not seem to be any direct news from the company today but it could be a spillover from the company’s IPO last week. Last week, the company went public at $5 per share. Proceeds from the offering will be used to upgrade and expand the company’s manufacturing facilities.
It will also be used for research and development and also for branding and marketing. All things considered, do you think UPC stock will continue its momentum in the near future?
[Read More] 4 Top Health Care Stocks To Watch This Week
Humanigen is a biotech company that is developing its portfolio of clinical and pre-clinical therapies for the treatment of cancers and infectious diseases. The company utilizes its novel, cutting-edge GM-CSF neutralization, and gene-knockout platform. HGEN stock currently trades at $21.61 as of Monday’s closing bell. The stock has rallied by over 60% on today’s opening bell as investors react to the company’s latest press release.
In it, Humanigen reports positive Phase 3 topline results for its lead drug candidate, lenzilumab. In detail, the drug is able to improve survival without the need for invasive mechanical ventilation (IMV) in hospitalized patients with coronavirus and improved the likelihood of survival by 54%. This achieves its primary endpoint of its Phase 3 study.
The company notes that it will apply for Emergency Use Authorization (EUA) to the U.S. Food and Drug Administration (FDA) as soon as possible. Given the excitement surrounding the company’s latest press release, will you consider buying HGEN stock?
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Kazia Therapeutics Ltd.
Kazia is an oncology company that is based in Australia. It is developing innovative and high-impact drugs for cancer. Its lead program paxalisib is to treat glioblastoma. Glioblastoma is one of the most common and most aggressive forms of primary brain cancer in adults. KZIA stock was up by over 10% on today’s opening bell. The company today announced that it has entered into a licensing agreement with Simcere Pharmaceutical Group Ltd to develop and commercialize paxalisib in China.
Simcere is one of China’s leading pharmaceutical companies, with over 40 marketed products and an extensive development pipeline. It will assume responsibility for the development, registration, and commercialization of paxalisib in China. Under the agreement, Kazia will receive an upfront payment of $11 million and a contingent milestone payment of up to $281 million for glioblastoma. Simcere will also pay Kazia mid-teen percentage royalties on commercial sales.
In addition to that, paxalisib is currently the subject of six additional studies in other forms of brain cancer beyond glioblastoma. That could suggest bigger things to come for Kazia in the future. Given the company’s potential for treating brain cancer, will you be adding KZIA stock to your watchlist?
Ionis Pharmaceuticals Inc.
Ionis is a leader in RNA-targeted therapy. It has been pioneering new markets and changing the standards of care for the last 30 years with its novel antisense technology. The company currently has three marketed medicines and a premier late-stage pipeline. IONS stock currently trades at $44.96 as of 4:00 p.m. ET.
Investors are likely responding to the company reporting a positive topline Phase 2 study for its novel antisense treatment, IONIS-PKK-LRx, for hereditary angioedema (HAE). These results support a profile for IONIS-PKK-LRx as a potential best-in-class prophylactic treatment for patients with HAE. The treatment has also shown excellent efficacy, safety, and tolerability.
Last month, the company also reported its fourth-quarter and full-year 2020 financial results. In it, the company reported that it achieved its 2020 financial guidance, with $729 million in total revenue. The company also ended the year with $1.9 billion in cash. This would allow the company to invest in advancing its pipeline and technology which would help position Ionis for future growth. With that in mind, do you think IONS stock is a top biotech stock to buy?