Do You Have These Top Health Care Stocks On Your April Watchlist?
With the Biden administration rolling out its infrastructure proposal, the American Jobs Plan on Wednesday, things do look promising for health care stocks. You might be asking, how does this relate to health care? Firstly, under Biden’s broader definition of infrastructure, it includes more funding for home health care. Secondly, the proposal includes new funds over eight years to improve access to long-term care under Medicaid, the public health insurance program for the poor and disabled. In summary, the president is seeking to expand health access with $400 billion in funds.
This extra funding to health care could ripple to health care stocks in general. The health care industry is of course very huge. It comprises companies who are involved in biotech like Moderna (NASDAQ: MRNA) and Amgen (NASDAQ: AMGN). Yesterday, the National Institutes of Health (NIH) began testing Moderna’s experimental coronavirus variant vaccine. The new vaccine is designed to protect against a new strain of the coronavirus that was first identified in South Africa. Following this piece of news, MRNA stock was up by over 10% since Wednesday. It also includes health care providers and insurance companies. Given the wide plethora of top health care stocks to choose from, here is a list of 4 of the best health care stocks to consider buying or completely avoiding in the stock market today.
Health Care Stocks To Buy [Or Avoid] Now
- Sanoma Pharmaceuticals Inc. (NASDAQ: SNOA)
- United Therapeutics Corporation (NASDAQ: UTHR)
- AbCellera Biologics Inc. (NASDAQ: ABCL)
- Applied Molecular Transport Inc. (NASDAQ: AMTI)
Sanoma is a global health care leader for developing and producing stabilized hypochlorous acid (HOCI) products for a wide range of applications. In detail, this would include wound care, eye care, nasal care, oral care, and dermatological conditions. Furthermore, its products will reduce infections and harmful inflammatory responses safely and effectively. SNOA stock popped by over 20% on today’s opening bell and currently trades at $8.28 as of 1:28 p.m. ET. Specifically, investors seem to be responding to the company’s latest press release today.
In it, Sanoma announced that it has entered into an agreement with EMC Pharma for the exclusive right to manage and distribute Sanoma’s HOCI-based prescription dermatology and eye care products in the U.S. In addition to that, the initial term for the agreement is five years and is subject to extension. The partnership will expand its distributor network to reach more patients and consumers nationwide. This would also bring new opportunities for Sanoma to access government channels.
Furthermore, EMC Pharma already has an extensive distribution network and broad experience in the pharmaceutical business. This would allow Sanoma to capitalize on EMC Pharma’s expertise. Given the exciting development surrounding the company, will you consider buying SNOA stock?
United Therapeutics Corporation
United is a leading biotech company that focuses on developing treatments for rare diseases. It boasts a next-generation therapeutic platform that is designed to address the unmet needs of patients living with conditions like pulmonary arterial hypertension (PAH) and end-stage organ disease. Also, its wholly-owned subsidiary, Lung Biotechnology PBC is focused on addressing the acute national shortage of transplantable lungs and other organs with a variety of technologies. UTHR stock has been up by over 18% today and currently trades at $198.20 as of 1:29 p.m. ET.
Investors seem to be responding to news that the U.S. Food and Drug Administration (FDA) had approved its Tyvaso drug for the treatment of pulmonary hypertension associated with interstitial lung disease (PH-ILD). Without a doubt, the FDA approval is a landmark treatment advancement for those suffering from PH-ILD.
“With this approval representing such a breakthrough for PH-ILD patients, we’re treating this indication launch with a sense of urgency,” said Michael Benkowitz, President and Chief Operating Officer of United Therapeutics. “We’ve already expanded our field-based teams by 40% to educate the ILD community on the benefits of Tyvaso and how to properly diagnose PH-ILD. We expect rapid uptake of Tyvaso in this indication and expect to double the number of patients on Tyvaso therapy by the end of 2022, barring any COVID-related delays.” All things considered, will you buy UTHR stock?
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AbCellera Biologics Inc.
AbCellera is a biotechnology firm that researches and develops human antibodies to address pandemics and common diseases. In detail, it decodes and analyzes natural immune systems to find antibodies that its partners can develop into drugs to prevent and treat diseases. Impressively, the company has partnered with both large pharmaceuticals and small biotechnology companies. ABCL stock currently trades at $31.20 as of 1:29 p.m. ET.
Today, the company announced that it will be expanding its collaboration with Gilead Sciences (NASDAQ: GILD). This would include a multi-year and multi-target antibody discovery collaboration and access to AbCellera’s humanized mouse technology, the Trianni Mouse. Under the agreement, AbCellera will receive an upfront payment and is eligible for milestone payments and royalties based on the development and commercialization of antibodies generated by the company under this collaboration. This would help the company increase its revenue for the long term given this partnership with the health care titan Gilead. Given this piece of news, will you consider buying ABCL stock?
Applied Molecular Transport Inc.
Applied is a health care company that focuses on developing novel oral medicines to treat autoimmune/inflammatory, gastrointestinal (GI), and metabolic diseases. In brief, the company’s technology platform is based on natural active transport systems. Also, its lead products (AMT-101 and AMT-126) are directly targeted to immune-rich intestinal tissue to treat inflammatory and other diseases of the intestine. AMTI stock is up by a staggering 30.52% today and currently trades at $57.44 as of 1:30 p.m. ET.
AMT-101 is a novel GI-selective, oral fusion of hIL-10 and AMT’s proprietary carrier molecule. The treatment is currently being developed in four Phase 2 clinical trials in inflammatory bowel diseases and rheumatoid arthritis. Furthermore, the company expects top-line data readouts for the four oral AMT-101 Phase 2 trials in the second half of 2021. Evidently, its publication of preclinical data has already demonstrated the potential of AMT-101 for inflammatory diseases. With that said, would you consider AMTI stock as a top health care stock to buy today?