Are These The Best Biotech Stocks To Buy In The Stock Market Today?
Some of the top biotech stocks have been performing steadily in the stock market in recent months. For instance, Pfizer (NYSE: PFE) saw its share price surging over 17% in the last 3 months. Besides, its revenues surged 45% to $14.6 billion during the first quarter of 2021. We all know the importance of healthcare and the pandemic merely magnified the value of the biotech industry. However, biotech stocks have always been known to be high-risk, high-reward investments. A positive clinical outcome or update can lead to a boost in share price. On the flip side, should the clinical data be disappointing, biotech stocks could see their share price crashing.
Take Moderna (NASDAQ: MRNA) and Novavax (NASDAQ: NVAX) for example. Both companies are known for their development of COVID-19 vaccines. Early investors of MRNA stock and NVAX stock would have seen significant gains, with gains of 600% and 1,500% respectively over the past year. Of course, it can be challenging for investors to navigate around the complexities that come with the biotech industry. However, with proper research and due diligence, investors could make educated guesses on which biotech stocks to bet on. With that in mind, do you have this list of top biotech stocks to watch in the stock market this week?
Top Biotech Stocks To Buy [Or Sell] Right Now
- AbbVie Inc. (NYSE: ABBV)
- Amgen Inc. (NASDAQ: AMGN)
- Gilead Sciences (NASDAQ: GILD)
- Regeneron Pharmaceuticals Inc. (NASDAQ: REGN)
- Seagen Inc. (NASDAQ: SGEN)
First up, AbbVie is a biotech company that operates as a research-based pharmaceutical manufacturer. Over the past year, ABBV stock has risen by over 25%. The company started the year on a strong note as demonstrated from its first-quarter results. In it, the company reported revenue of $13.01 billion, which represents a 51% increase year-over-year.
Despite a strong first quarter, a recent issue of AbbVie inflating one of its drug prices might have brought some publicity concerns for some investors. But those are only potential worries. Considering AbbVie has a highly diversified business with a huge stable of drugs under its belt, there’s no need to fret over it.
Notably, the company has shown it can expand other parts of its business as well. AbbVie’s aesthetics portfolio also demonstrated remarkable growth. Global revenues rose by 35% to $1.14 billion year-over-year. Impressively, revenue from Botox rose 45% to $477 million year-over-year. With the strong growth of its drug sales, could ABBV stock be a good biotech stock to buy now?
Amgen is a biotech giant which has been around for 30 years. It boasts an impressive line-up of over 30 drugs. The company’s expertise in the development of human therapeutics allows it to diversify revenues across several drugs. For example, Amgen’s top eight products accounted for 71% of revenues in the first quarter this year. Repatha, a treatment for cardiovascular disease, saw a revenue surge of 25% to $286 million. More importantly, its patent isn’t set to expire until 2028. That suggests that the drug will continue to be a key revenue contributor in the coming years.
Apart from developing new products, international markets play a key role in Amgen’s growth strategy. For context, revenues from the international market grew from 21% in 2017 to 30% in the first quarter this year. The company is in plans to grow its presence in the Asia Pacific market to drive future growth. With all these in mind, do you think AMGN stock is worth investing in?
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Gilead Sciences is a biopharmaceutical company that supplies antiviral drugs that treat HIV, viral hepatitis, and cancer in more than 35 countries worldwide. With more than 30 years of experience, the company has brought forward medicines for many life-threatening diseases. In late October 2020, the company received FDA approval for the use of its antiviral drug, Veklury (remdesivir) for the treatment of COVID-19.
On April 29, Gilead released its first-quarter results. In detail, revenues rose 16% to $6.4 billion and profits grew 12% to $1.7 billion year-over-year. The company’s COVID-19 treatment drove the revenues for the quarter, accounting for $1.5 billion in sales. Besides, its top-selling HIV drug, Biktarvy recorded 8% year-over-year growth in revenue. As the drug is protected until 2033, Gilead may continue to see strong sales from this drug over the next several years. All things considered, will you add GILD stock to your portfolio?
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Regeneron Pharmaceuticals Inc.
Regeneron Pharmaceuticals is a leading player in the biotech industry that develops medicines for people with serious diseases. Specifically, its portfolio includes its blockbuster eye drug Eylea, Libtayo for cancer, and REGEN-COV, a dual antibody cocktail for COVID-19. From a phase 3 trial in high-risk COVID-19 outpatients, the antibody cocktail reduced the risk of hospitalization or death by approximately 70% with both doses.
The company’s research into administering its COVID-19 treatment as a subcutaneous injection appears to be progressing well. The company reported a reduced risk of symptomatic infections by 81%. In another study, Regeneron discovered that the cocktail reduced the chance of asymptomatic patients progressing to symptomatic COVID-19.
Most notably, Regeneron collected enough data to request the FDA to expand the emergency use authorization to include COVID-19 prevention for appropriate populations. Should Regeneron receive approval from the FDA, the use of its antibody cocktail could potentially pick up significantly. In anticipation of the possible good news, would you be watching REGN stock?
Seagen is a global biotech company that makes cancer medicines. The company started off with drug treatment, Adcetris for Hodgkin lymphoma. Since then, Seagen has commercialized two more drugs which are Padcev for bladder cancer and Tukysa for breast cancer. In addition, it also has a large pipeline of drug candidates in development.
The company recently reported its first-quarter financials in April. In it, revenue rose 52% year-over-year to $302.6 million. This was driven by the rapid adoption of Seagen’s newest products, Padcev and Tukysa. The company estimates sales to hit as much as $1.3 billion for the full year. With yet another strong quarter demonstrating the resilience of the business, would you add SGEN stock to your watchlist?