Are These The Best Health Care Stocks To Buy This Week?

As the world continues to deal with the global coronavirus pandemic, investors could still be eyeing health care stocks. While they may not be the most active stocks in the stock market today, health care stocks would be a safe haven for some. After all, investors are likely dealing with the market volatility caused by meme stocks to some extent now. For those looking to make more defensive plays, some would argue that the health care industry is a viable bet.

Regardless, the industry remains one of, if not the most important sectors of business and research globally today. Notably, health care companies are in the business of improving our general quality of life. Given the plethora of diseases and conditions we face today, there remains plenty of room for health care players to innovate and serve. Accordingly, investors prioritizing long-term growth potential may be looking at the top health care stocks in the stock market now.

Evidently, it appears that even tech companies are well aware of the health care industry’s merits. Earlier this week, tech giant Amazon (NASDAQ: AMZN) provided another update on its telehealth service, Amazon Care. Namely, Amazon Care is currently working to enlist several companies to supplement its virtual health care services now. Elsewhere, Johnson & Johnson (NYSE: JNJ) CEO Alex Gorsky recently set the stage for coronavirus vaccines moving forward. According to Gorsky, we may have to receive coronavirus booster shots together with flu shots for the next few years. In theory, this would mean that the top coronavirus stocks could still have room to run moving forward as well. Given all of this, here are three top health care stocks making headlines now.

Top Health Care Stocks To Watch In June

AbbVie Inc.

Right off the bat, we will be looking at AbbVie Inc. For the uninitiated, the Illinois-based company is a major player in the biopharmaceutical industry now. Originating as a spin-off from Abbott Laboratories (NYSE: ABT), AbbVie strives to research and deliver innovative medicines. Now, the company’s developmental pipeline consists of potential treatments across numerous key therapeutic areas. These include but are not limited to immunology, oncology, virology, and eye care. For a sense of scale, AbbVie is currently evaluating over 20 investigational cancer medicines in over 300 clinical trials globally.

Now, ABBV stock would be in investors’ sights as the company continues to make tremendous breakthroughs. Just this month, AbbVie continues to see significant results in its cancer and arthritis portfolios. For starters, the company’s Chronic Lymphocytic Leukemia (CLL) treatment, VENCLEXTA, continues to perform. Earlier today, AbbVie announced that a four-year analysis of the drug showed longer progression-free survival (PFS) and higher rates of undetectable minimal residual disease. Overall, the company saw that a majority of CLL patients treated with its drug have and continue to remain without relapse three years after.

If that wasn’t enough, AbbVie also provided another positive update in its other CLL drug candidate, ibrutinib, on June 4. According to the company, the drug exhibits the potential to achieve extended PFS and overall survival “when used as a first-line therapy”. Danelle James, the development lead on the drug said, “These latest data from the RESONATE-2 study further reinforce IMBRUVICA as a standard of care that can help patients live longer without chemotherapy.” Because of all this, would you say that all this mark exciting times ahead for ABBV stock now?

health care stocks to buy (ABBV stock)
Source: TD Ameritrade TOS

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Moderna Inc.

Next up, we have coronavirus vaccine superstar Moderna Inc. Indeed, this biotech company would be a household name now given its role in fighting the current pandemic. The company’s products serve to boost the human immune system using modified messenger RNAs. Given Moderna’s lead in the vaccine market, investors looking to bet on coronavirus stocks would turn to MRNA stock now. As it stands, the company’s shares are currently sitting on massive gains of over 250% in the past year. While it remains a key player in the fight to vaccinate the world, could it have more room to grow?

If anything, Moderna is not resting on its laurels in the least bit. To begin with, the company is now seeking FDA approval for its COVID-19 vaccine to be administered to teens. Yesterday, Moderna cited the significantly positive results from its previous study which included over 3,700 adolescents aged 12 to 17. According to the company, zero positive cases were detected from the treatment group that received two doses of its vaccine.

In theory, this would suggest a 100% efficacy rate for the current target age group. Now, Moderna appears confident of its current findings. So much so that it is also currently filing for authorization with Health Canada and the European Medicines Agency. While the U.S. may be a frontrunner in terms of vaccination rates, many parts of the globe are still behind. Seeing as the potential applications for Moderna’s vaccine continues to grow, the company could be looking at busy times ahead. By extension, some would argue that MRNA stock could be in the same position. All in all, would you consider adding it to your portfolio now?

best health care stocks to buy (MRNA stock)
Source: TD Ameritrade TOS

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Clover Health Investments Corporation  

Another health care company that is in the spotlight now would be Clover Health Investments Corporation (CLOV). Now, for those keeping up with the recent stock market news, CLOV stock was a meme stock. At one point, the company’s shares doubled in value during intraday trading on Tuesday this week. Since then, however, the stock has dipped by 35%. Before dismissing the company, investors may want to take a closer look at its operations. In brief, CLOV operates as a Medicare Advantage insurer. It does so via its proprietary software platform, the Clover Assistant. With the current emphasis on health, especially amongst the elderly, Clover’s services would be in demand.

On one hand, the company provides America’s seniors with affordable health care plans. On the other hand, CLOV also aids physicians on the big-data front. The company can do so via its data-driven personalized insights, courtesy of its platform as well. With its current offerings, the company is looking to improve clinical decision-making and outcomes. As such, investors looking to bet on the health care industry, in general, would be turning to CLOV stock now.

While CLOV stock may be winding down from its meme stock frenzy, the company is not sitting idly by. At the moment, CLOV is planning to scale its in-home primary care program, Clover Home Care (CHC). Specifically, it will be doing so via the U.S. Centers for Medicare and Medicaid Services’ new Direct Contracting model. According to CLOV, this would serve to make the Medicare program more financially sustainable for clients while enhancing care and outcomes. With the company seemingly firing on all cylinders now, will you be investing in CLOV stock?

top health care stocks to buy (CLOV stock)

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