Are These The Top Biotech Stocks To Buy In February?
Biotech stocks are always interesting to follow. These stocks have generally been on the riskier side of an investor’s portfolio. On one hand, you could be looking at tremendous gains overnight. On the other, one underperforming trial could send your biotech stock tumbling down. How will they fare this year? If some of the top biotech stocks are any indicator, then they still seem to be going strong. Vaccine company Moderna (NASDAQ: MRNA) has been up by over 50% year-to-date as it continues its vaccine rollout to the masses. BioNTech (NASDAQ: BNTX) is another vaccine company that is up by over 25% year-to-date.
Despite being more resilient to global economic uncertainty and a raging pandemic, biotech stocks depend on other factors. These include clinical data releases, regulatory approval, or government contracts. The biotech industry is of course very huge. From the marvels of gene-therapy to the idea of bioprinting cells and tissues, the possibilities are endless.
With so many fields to choose from, it can be a daunting task for investors to pick the best biotech stocks to buy among the thousands of biotech companies available today. Investors who do their due diligence and follow these companies closely however could make huge returns. So without further delay, let us take a closer look at these biotech stocks that are trending in the stock market today.
Top Biotech Stocks To Buy [Or Sell] Right Now
- Eli Lilly and Company (NYSE: LLY)
- Novavax Inc. (NASDAQ: NVAX)
- Pacific Biosciences of California Inc. (NASDAQ: PACB)
- Inovio Pharmaceuticals Inc. (NASDAQ: INO)
Eli Lilly and Company
Eli Lilly and Company or LLY is a pharmaceutical company that is based in Indiana. It has offices in 18 countries and its products are sold in approximately 125 countries. The company is the first company to mass-produce the polio vaccine and insulin. LLY is also currently the largest manufacturer of psychiatric medications. The company is committed to creating high-quality medicines and has 145 years of experience in the field. LLY stock is up over 25% year-to-date and shows no signs of stopping. It announced its fourth-quarter fiscal today, much to investors’ delight.
The company reported a revenue increase of 22% year-over-year, at $7.44 billion. Driven by volume growth of 24%, its full-year 2020 revenue was a whopping $24.53 billion. This was a 10% increase compared to a year earlier. The U.S. Food and Drug Administration (FDA) recently granted Emergency Use Authorization (EUA) for bamlanivimab for the treatment of mild to moderate coronavirus in adults and pediatric patients.
In this quarter, LLY also completed the acquisition of Prevail Therapeutics, a biotech company that develops potentially disease-modifying gene therapies. With so many exciting things surrounding the company, will you consider buying LLY stock?
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Novavax is a vaccine development company that is based in Maryland. The company today announced that its coronavirus vaccine is 89.3% effective in large-scale UK trials. NVAX stock closed Friday’s trading session up 64.87% at $220.94 a share. The jab was also shown in trials that it is effective against the new virus variant found in the UK. The UK has so far secured 60 million doses of the jab. This would of course be above the FDA requirement of a 50% efficacy to be approved from emergency use. The company could win EUA as early as April if all goes according to plan.
The company has also secured many advance purchase agreements with governments all over the world. Last week, the company announced that it will be supplying 76 million doses of vaccines. These are certainly exciting times for the company as it reaches the final leg of the vaccine race. Novavax stocks have been up by over 50% in pre-market trading on news that its vaccine was highly effective.
The company also has its NanoFlu investigational flu vaccine in the limelight. Last year it met all endpoints in a clinical trial, paving way for regulatory approval. This on top of the fact that the company is also exploring the possibility of combining its coronavirus and flu vaccine. Seeing how the coronavirus could require yearly vaccination, this is an amazing play by the company. With that in mind, will you consider buying NVAX stock?
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Pacific Biosciences of California Inc.
Pacific Biosciences or PACB is a biotechnology company that develops and manufactures systems for gene sequencing and some novel real-time biological observation. The company is the brains behind Single Molecule, Real-time (SMRT) Sequencing technology. This tech transforms the understanding of biological systems by enabling real-time analysis of biomolecules with single-molecule resolution. PACB shares have been up by over 600% in the last year.
Earlier this month, the company released its preliminary fourth-quarter fiscal. In it, the company reported an approximate revenue of $27 million, which is approximately a 41% increase sequentially. PACB in November received approximately $94 million in net proceeds from an underwritten public offering of its common stock and ended the quarter with over $318 million in cash.
Recently, the company announced that it will be collaborating with Invitae Corporation (NYSE: NVTA) to develop a production-scale high-throughput sequencing platform. This will make the technology affordable and accessible to all patients who can benefit from in-depth, full genome information. With such exhilarating news, would you consider buying PACB stock?
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Inovio Pharmaceuticals Inc.
Inovio is a company that is focused on the development and commercialization of synthetic DNA products for treating infectious diseases and cancers. The company is committed to powering a new way forward in DNA medicine. With 15 clinical programs in its pipelines, the company is one biotech stock that could be worth your attention. INO stock has been up by over 25% year-to-date. The company is also developing its vaccine candidate,
Earlier this month, Inovio’s VGX-3100 drug demonstrated a clinically significant reduction of HPV-16/18-associated precancerous vulvar lesions in 63% of treated participants six months after treatment. According to analysts, the drug could generate over $600 million annually in worldwide sales by 2024. This would of course be a significant increase from what the company is generating in sales today.
Its Phase 2 results also indicate that VGX-3100 is a safe, tolerable, and efficacious adjunct to the current standard of care for women with vulvar dysplasia. All things considered, is INO stock a top biotech stock to buy?