Coronavirus stocks are still in the spotlight right now. Undoubtedly, as the pandemic continues to rage on throughout the world, this will continue to be the case. In terms of figures, we have reached the grim milestones of over 100 million cases worldwide. Of these cases, 2.35 million people have lost their lives. Just yesterday, British prime minister Boris Johnson reportedly said, “I think we (the British people) will have to get used to the idea of vaccinating and revaccinating in the autumn as we come to face these new variants.” Admittedly, emerging variants of coronavirus have brought on more problems, and with that, more opportunities for top biotech stocks and investors alike.
Clearly, the push for vaccination and other forms of treatment continues to be of the utmost importance. Because of that, some of the best coronavirus stocks to watch continue to reach new heights. In turn, this has provided investors with many returns. For instance, Ocugen (NASDAQ: OCGN) saw its shares skyrocket when news broke of the company bringing a vaccine to market in the U.S. Likewise, Veru (NASDAQ: VERU) who provided positive results on its oral COVID-19 symptom treatment also saw huge gains. Given their current valuations, investors could see opportunity in the long run, should things go as planned. With that in mind, do you have these top coronavirus stocks on your watchlist?
- Pfizer Inc. (NYSE: PFE)
- Eli Lilly And Company (NYSE: LLY)
- Pacific Biosciences Of California Inc. (NASDAQ: PACB)
- Moderna Inc. (NASDAQ: MRNA)
Our first entry needs little introduction, it is the vaccine frontrunner Pfizer. It comes as no surprise that one of the world’s largest pharmaceutical companies is a top coronavirus stock. Initially, when word of the U.K. and South African variants of coronavirus came out, there was concern regarding the efficacy of its vaccine. Impressively, early tests have shown that Pfizer’s vaccine candidate can protect against the two. Seeing as it is one of the few authorized vaccines, the company could likely continue to extend its lead among the competition. Regardless, as PFE stock seems to be trading sideways for the most part, could it be undervalued?
Well, that depends on how the competition sizes up. In the meantime, Pfizer’s vaccine is still a viable option for countries looking to vaccinate their populations. This is especially the case as the regulatory boards begin to tighten their criteria once again for upcoming vaccines. Sure, these vaccines bring innovations that would make inoculation easier, but it could be months before they got approved for use. In that time, Pfizer will likely continue to reap the benefits. In fact, the company is still keeping busy.
Yesterday, Pfizer revealed that it could ship vaccines directly to South African vaccination sites. This comes as AstraZeneca’s (NASDAQ: AZN) vaccine was shown to be less effective against the local variant of the disease. Could this mean big gains for PFE stock down the line? You tell me.
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Eli Lilly and Company
Following that, we have another pharmaceutical giant, Eli Lilly. For the uninitiated, the Indiana-based company markets its wide array of products across the globe. It boasts an impressive portfolio consisting of drugs for depression, lung cancer, and diabetes to name a few. More importantly, the company has also been working on an antibody therapy to fight COVID-19. On that note, LLY stock is in the limelight now as the company just received a major regulatory update regarding this very treatment.
In detail, Eli Lilly’s combination therapy of two antibodies, bamlanivimab and etesevimab (the therapy) was granted emergency use authorization (EUA) by the FDA. According to Eli Lilly’s trial data, the therapy cut the risk of hospitalization and death in COVID-19 patients by 70%. This would play an important role in helping ease the current burdens on healthcare systems worldwide.
Accordingly, the company has stated that there are already 100,000 doses at the ready. On top of that, Eli Lilly also mentioned that it is working with biopharmaceutical company, Amgen (NASDAQ: AMGN) to manufacture a total of 1 million doses by mid-2021. Nevertheless, this is an exciting development for the company. Do you think all this makes LLY stock worth watching in the long run?
Pacific Biosciences Of California Inc.
Another top coronavirus stock on the radar now would be Pacific Biosciences or PacBio. For some context, it is a biotech company that specializes in designing gene sequencing systems. Notably, the company is currently in the process of sequencing the coronavirus genome. Although most coronavirus stocks often focus on the short-term, PacBio could be an interesting option for investors looking towards long-term growth potential. This is because PacBio’s work seeks to provide a more detailed understanding of the coronavirus.
In the words of its Chief Scientific Officer Jonas Korlach, “COVID-19 will continue to be an area of significant clinical research in the months and years to come.” As such, it is no wonder that PACB stock is up by over 1000% in the past year. The company also announced some big news yesterday.
To summarize, the company announced that Tokyo-based multinational conglomerate, Softbank Group, will be making a $900 million investment into PacBio. The investment will be in the form of convertible senior notes and will go towards supporting PacBio’s future growth initiatives. This would explain why PACB stock popped by over 16% during intraday trading yesterday. By and large, do you think PACB stock will continue to reach new heights moving forward?
Last but definitely not least, we will be looking at Moderna. The company has become a household name throughout the pandemic. Undeniably, this is thanks to its coronavirus vaccine candidate being the second to receive a EUA by the FDA. With gains of over 700% in the past year, investors might be wondering if MRNA stock still has room to grow. Nonetheless, Moderna continues to press on with the global rollout of its much-needed vaccine.
Earlier this week, the company announced two new supply agreements. Firstly, it will be providing 5 million doses to the government of Taiwan. Second, Colombia will be receiving 10 million doses of its vaccine. Both deliveries are scheduled to commence by mid-2021. However, the company’s vaccine is not approved for use in both countries as of yet. Moderna mentions that it will take the necessary steps to pursue regulatory approval.
All in all, Moderna is likely looking at a very busy and productive year ahead. With the company slated to post its fourth-quarter fiscal on February 25, it would not surprise me if investors are watching MRNA stock right now. Will you be doing the same?