Are These The Best Biotech Stocks To Buy Now? 4 Names To Know

Biotech stocks have been on fire in the last few months. The reason being how some of these companies delivered on investor expectations by announcing breakthrough clinical results or introduced revolutionary medicine. For instance, biotech companies like Moderna (NASDAQ: MRNA) and Pfizer (NYSE: PFE) have made their COVID-19 vaccines in record time. Rapid development and regulatory approvals will play a crucial role in a biotech stock’s market performance after all. With every milestone achieved in treatment or drug development, top biotech stocks will continue to thrive.

Vaxart (NASDAQ: VXRT) is another biotech company that has skyrocketed in valuation in the last week, up by a whopping 161%. This came after two of its Board members resigned and after news of the company announcing its Phase 1 trial for its tablet form COVID-19 vaccine. Aside from vaccines, we have also seen how many biotech companies continue to innovate in cancer treatment and gene-editing technology, treatments that were impossible a century ago. With the many game-changing treatments and drugs in development right now, there is certainly a lot of potential for the industry. All things considered, here is a list of top biotech stocks that are worth watching this month.

Top Biotech Stocks To Watch

Cassava Sciences Inc.

Cassava is a biotech company that focuses on neuroscience. It has a key focus in R&D to develop its first-in-class medicines for people with debilitating neurodegenerative conditions. The company collaborates with the National Institutes of Health (NIH) for its research programs with substantial scientific and financial support. Shares of Cassava are up by over 130% on Tuesday after the biotech company released promising data for its simufilam study, its drug candidate for the treatment of Alzheimer’s disease.

biotech stocks (SAVA stock)

The interim analysis from this open-label study of simulfilam shows that it improves cognition and behavior in Alzheimer’s disease patients after six months of treatment. The company also reports that participants’ cognition scores improved by 10% on average from baseline. In these same patients, simulfilam also improved dementia-related behavior such as anxiety, delusions, and agitation, a 29% improvement from baseline. Furthermore, the study reported no serious safety issues. In light of this, the company will begin its phase 3 clinical trial of simufilam in the second half of 2021. Nevertheless, one should note that many Alzheimer’s drug candidates in the past have been unsuccessful. Therefore, should Cassava’s treatment turn out to be effective, its market potential would be enormous. Will this be enough for you to add SAVA stock to your watchlist?

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Jazz Pharmaceuticals

Jazz Pharmaceuticals is a biopharma company that is based in Ireland. The company focuses on developing life-changing medicines for people with serious diseases so that they can live their lives more fully. The company today announced that it has agreed to acquire GW Pharmaceuticals (NASDAQ: GWPH) in a cash-and-stock deal valued at $7.2 billion. The transaction has been unanimously approved by the Board of Directors of both companies and is expected to close in the second quarter of 2021. The company’s shares are traded at $152.86 as of 3:47 p.m. ET.

top biotech stocks (JAZZ stock)

The acquisition of GW Pharmaceuticals will allow Jazz Pharmaceuticals to be a leader in neuroscience with a global commercial and operational footprint that is well-positioned to maximize the value of its diversified portfolio. In the company’s third-quarter fiscal posted in November, it reported strong financial and operational performance. Jazz Pharmaceuticals’ total revenue increased by 12% year-over-year at $600 million. The company’s increasingly diversified revenues are fuelled by the recent launch of Zepzelca, an innovative new treatment for relapsed small cell lung cancer. With such an impressive track record, will you consider adding JAZZ stock to your portfolio?

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AbbVie Inc.

AbbVie is a biotech company that operates as a research-based pharmaceutical manufacturer. With over 47,000 employees around the globe, it continues to come up with new approaches to address today’s health issues. The company has a broad portfolio of treatments in the field of oncology, immunology, and neuroscience to name a few. The company has recently announced its fourth-quarter profit and revenue that managed to beat expectations. ABBV stock has been up by 23% since November.

best biotech stocks (ABBV stock)

In the company’s fourth-quarter financials, it reported full-year adjusted diluted earnings per share of $10.56. The company’s worldwide net revenues were $1.385 billion, an increase of 59.2% to a year earlier. A substantial chunk of this revenue came from its immunology portfolio, at $5.95 billion. This was a 15.3% increase compared to a year earlier. Its net revenues from the hematologic oncology portfolio were $1.789 billion, a 15.7% increase year-over-year. The company expects its portfolio of diversified assets and robust momentum of its business to see impressive growth again this year. With an excellent financial performance this quarter, will you add ABBV stock to your watchlist?

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Veracyte Inc.

Veracyte is a pioneering genomic diagnostics company. Its tests leverage innovations in genomic technology and machine learning to provide more confident diagnostics, prognostics, and treatment. The company deals with challenging diseases like thyroid cancer, lung cancer, breast cancer, and idiopathic pulmonary fibrosis. Its shares have been up by over 10% on today’s opening bell. This seems to come from two pieces of news that the company announced today.

best biotech stocks to buy now (VCYT stock)

Firstly, Veracyte will be acquiring Decipher Biosciences to further solidify its global leadership in the genomic cancer diagnostics market while accelerating revenue growth. Through this acquisition, Veracyte will be able to serve patients across the clinical care continuum in 7 of the 10 most prevalent cancers in the U.S. Secondly, it announced its preliminary fourth-quarter financial results, much to investors’ delight. In it, the company reported total revenue of between $34 million to $35 million, which is a 16% increase at the midpoint of the range compared to a year ago. Its product and testing volume also increased by 14% for the quarter. Given all of this, will you consider VCYT stock as a top biotech stock to watch?

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