Top Biotech Stocks To Consider Buying [Or Selling] This Week
Depending on your investment appetite, the stock market offers various types of opportunities. Biotech stocks have a reputation for being a high-risk, high-reward kind of investment. Over the past two years, countless biotech stocks soared to never-before-seen heights thanks to the race for coronavirus vaccines. In fact, each stage and progress along the way would often act as a catalyst for biotech stocks. A positive outcome can lead to a boost, while a negative outcome can be detrimental.
A prime example that we can look at today would be Ocugen (NASDAQ: OCGN). The company stock soared by 12.26% on Monday’s closing bell and continues to climb in pre-market trading today. This comes as an advisory panel of the World Health Organization (WHO) will hold a meeting today to discuss whether to grant an emergency use listing for its Covaxin. Ocugen and Bharat Biotech partnered to co-develop Covaxin for the U.S. market. Currently, it is in late-stage trials and shows a promising 78% efficacy against the coronavirus. Well, it appears that investors are confident that WHO will give the green light to the vaccine. With that in mind, here are 4 other top biotech stocks in the stock market today worth considering.
Best Biotech Stocks To Buy This Week
- Pfizer Inc (NYSE: PFE)
- Moderna Inc (NASDAQ: MRNA)
- Aurinia Pharmaceuticals Inc (NASDAQ: AUPH)
- Dynavax Technologies Corporation (NASDAQ: DVAX)
First, we will be looking at the biopharmaceutical company, Pfizer. Essentially, it is a research-based company that specializes in biopharmaceutical products. Its global portfolio mainly consists of medicines and vaccines. As some of you may be aware, the company partnered with BioNTech SE (NASDAQ: BNTX) to develop one of the most effective coronavirus vaccines present today.
Last week, the company announced topline results from a Phase 3 randomized controlled trial evaluating the efficacy and safety of a 30-µg booster dose of the Pfizer-BioNTech COVID-19 vaccine. The trial was conducted on more than 10,000 individuals 16 years of age and older. It appears that a booster administered to individuals previously receiving the company’s primary two-dose series restored vaccine protection against the virus to the high levels achieved after the second dose. This result further emphasizes the need for a booster dose to ensure optimum protection against the disease.
Also, the company recently announced that it will be ramping up the production of its COVID-19 vaccine next year. This is in response to a series of unfortunate events that include the failure of some vaccine companies to scale up production of their vaccines, and the surge of the Delta variant. Overall, Pfizer believes it will continue to play a big role in eradicating the pandemic. Considering all these, would you be adding PFE stock to your portfolio?
Another top company in the biotech space right now would be Moderna. In detail, the company focuses on creating transformative medicine based on messenger RNA (mRNA). Its mRNA medicines work by directing the body’s cells to produce intracellular membrane or secreted proteins that have a therapeutic or preventive benefit to address a range of diseases. MRNA stock has skyrocketed by more than 200% just this year.
Yesterday, Moderna announced that the European Medicines Agency’s Committee for Medicinal Products for Human Use has concluded that a booster dose of the company’s coronavirus vaccine may be considered in people aged 18 years and older. Specifically, it is advocated for people who have completed the primary series for at least six months. This decision is supported by clinical evidence that a 50-µg booster dose would induce a strong immune response against the virus.
Furthermore, there was also an announcement of a new Memorandum of Understanding. Moderna will make up to 110 million doses of the company’s coronavirus vaccine available to the African Union. Well, this marks the first step in forging a long-term relationship with the African Union while helping lower-income countries to address the global pandemic. Given these considerations, would you buy MRNA stock?
Aurinia Pharmaceuticals is a late-stage clinical biopharmaceutical company. Put simply, the company focuses on developing and commercializing therapies to treat serious diseases. For instance, it has developed LUPKYNISTM, for the treatment of adult patients with active lupus nephritis (LN). AUPH stock has risen by almost 50% over the past week. So, let us see what was the catalyst for this sudden momentum.
According to Bloomberg News, Bristol-Myers Squibb Co (NYSE: BMY) expressed its interest in buying Aurinia Pharmaceuticals last week. However, the report also stated that there is currently no final decision and Bristol-Myers could still opt out of the potential deal. As of now, both parties declined to comment on the matter. That said, it appears that investors remain bullish as AUPH stock continues to build on its initial momentum.
After all, the company has also shown great momentum as COVID-related restrictions eased in the U.S. During its second-quarter business update, the company posted net revenue of $6.6 million, an increase of 624% year-over-year. More importantly, 415 patient start forms (PSFs) were received for LUPKYNIS during the quarter, representing an increase of over 60% from the first quarter this year. Whether the acquisition materializes or not, Aurinia Pharmaceuticals appears to be well-poised for growth. All things considered, would you jump on the AUPH stock bandwagon?
To sum up the list, we will be looking at Dynavax. This is yet another commercial-stage biopharmaceutical company that focuses on developing vaccines. Some of its products include HEPLISAV-B and CpG 1018. DVAX stock has been riding on a bullish momentum since the start of the year, gaining more than 300% within the period.
Last week, the company announced that Valneva SE reported positive topline results from the Phase 3 pivotal trial of VLA2001. This is their inactivated COVID-19 vaccine candidate using Dynavax’s CpG 1018 adjuvant. These results show that its CpG 1018 adjuvant has an important role to help drive a robust immune response while maintaining a favorability profile across different vaccine platforms.
It is also noteworthy that Mr. Scott Myers is now part of its Board of Directors. He was elected to be Board Chairman, succeeding Dr. Andrew Hack. His decades of pharmaceutical experience will add depth and breadth to the company as Dynavax continues to build a leading vaccine company. With all said and done, would you consider DVAX stock as a top biotech stock to buy?