If you didn’t know, biotech stocks have been on the rise in recent years, as investors seek out companies that are developing groundbreaking new treatments for a wide range of diseases. Biotech firms are often at the forefront of medical research, and their products have the potential to transform the lives of patients with conditions that are currently incurable.
While investing in biotech stocks can be risky, the rewards can be significant. In turn, biotech stocks offer investors the opportunity to profit from lifesaving new treatments, and they should be considered in any well-diversified portfolio. Considering this, let’s look at three large-cap biotech stocks to check out in the stock market this month.
Biotech Stocks To Invest In [Or Avoid] Now
Abbvie Inc. (ABBV Stock)
First up, Abbvie Inc. (ABBV) is a research-based biopharmaceutical company. The company discovers, develops, and markets both biologic and small-molecule drugs. Abbvie has a portfolio of products in various therapeutic areas, including immunology, oncology, virology, and neuroscience.
Just last month, Abbvie announced a beat for its 3rd quarter 2022 financial results. In detail, the company posted Q3 2022 earnings of $3.66 per share and revenue for the quarter of $14.8 billion. Meanwhile, the biotech company did lower its outlook for the Fiscal Year 2022. Specifically, ABBV said it now estimates FY 2022 earnings of $13.84 to $13.88 per share. This is versus the previously announced forecast, which was earnings estimates of $13.78 to $13.98 per share.
So far this year, shares of ABBV have outperformed the broader markets, as ABBV stock is up 19.69% YTD. Meanwhile, during Friday’s lunchtime trading session, Abbvie stock is trading slightly higher by 0.28% at $162.09 a share.
Regeneron Pharmaceuticals (REGN Stock)
Next, Regeneron Pharmaceuticals (REGN) is a fully integrated biopharmaceutical company that develops, manufactures, and commercializes medicines for the treatment of serious medical conditions.
In early November, REGN announced its Q3 2022 financial results. In the report, Regeneron Pharmaceuticals reported third-quarter 2022 earnings of $9.98 per share, along with revenue of $2.9 billion. For context, Wall Street’s estimates for the quarter were earnings of $8.55 per share, and revenue estimates of $2.8 billion.
Similar to Abbvie, Regeneron Pharmaceutical stock is also outperforming the broader markets so far in 2022. In detail, shares of REGN stock have jumped 21.78% so far in 2022. While on Friday REGN stock is up another 0.32%, currently trading at $763.68 a share.
Pfizer Inc. (PFE Stock)
Last but not least, Pfizer (PFE) is one of the world’s largest pharmaceutical companies and one of the largest drug manufacturers. For starters, the company develops and produces medicines and vaccines for a wide range of medical disciplines. This includes immunology, oncology, cardiology, diabetology/endocrinology, and neurology.
Just last month, Pfizer reported a beat for its Q3 2022 financial results. Diving in, the company announced earnings of $1.78 per share and revenue of $22.6 billion for Q3 2022. Analysts’ estimates for the quarter were an EPS of $1.47, and revenue estimates of $25.4 billion. Additionally, Pfizer also announced that it expects 2022 earnings of $6.40 to $6.50 per share, and FY 2022 revenue estimates between $99.50 and $102.0 billion.
Year-to-date shares of Pfizer stock are down 9.55%. Though, in the last month of trading, shares of PFE stock have recovered 8.86%. During Friday’s lunchtime trading action, Pfizer stock is trading modestly higher by 0.18% at $51.23 a share.