3 Top Biotech Stocks To Buy According To Analysts.
Looking for the best biotech stocks to buy in the stock market today? It’s a question many investors think about. But when it comes to the biotechnology sector, fundamentals may be important. But some would argue that dates and the results of clinical trials would be even more crucial. Typically, these biotech stocks tend to ebb and flow on clinical data releases and regulatory approval decisions. And these are arguably far more important for gauging the biotechnology firm’s developments.
Many investors like the idea of staying one step ahead of the market. But it’s easier said than done. Maybe even more so given this week’s heavy earnings report following some form of pull-back that has taken the stock market lower. Still, if there’s one sector to watch that could withstand a bearish broader market cycle, top biotech stocks would definitely deserve the attention. Just look at the iShares Nasdaq Biotechnology ETF (IBB Stock Report). The biotech ETF has gained more than 14% year-to-date, surpassing the gains posted by the S&P 500 of 4%.
Would Injecting These Biotech Stocks Invigorate Your Portfolio?
As you probably could imagine, the universe of biotech stocks is as vast as the potential treatments in this field. That said, finding the best biotech stocks to buy can be tricky as volatility often haunts the space. When it comes to the biotech sector, and investing in general, managing risks should be your utmost priority. With the right research and due diligence, your chances of spotting biotech stocks that could break out with highly promising results are higher. Of course, no one will be able to master these skills to perfection. One easier way to do this is to look out for stocks that have positive analysts commentary prior to their clinical release.
While most attention is on Pfizer (PFE Stock Report) and BioNTech (BNTX Stock Report), there are also some other biotech companies that deserve some of the limelight. With all that in mind, let us dive into some of the under the radar biotech stocks that could potentially bring good returns to investors.
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Top Biotech Stocks To Buy [Or Sell] Before November 2020: Exact Sciences
Exact Sciences (EXAS Stock Report) tops the list of best biotech stocks to buy this week. The company saw its stock price skyrocketed 28% before closing 23% higher on Tuesday’s closing. This came after the company announced smashing third-quarter results and the acquisition of Thrive Earlier Detection. The acquisition represents another boon for the liquid biopsy industry, which can detect different types of cancer from a blood sample.
The company reported a revenue of $408 million. That represents an increase of 87% from a year ago. Of that amount, $91.6 million came from precision oncology tests which were a result of the acquisition of Genomic Health last November. The company also received a boost from coronavirus tests which contributed $102 million.
On the other hand, screening revenue from Cologuard, the company’s colon cancer test, and Biomatrica products fell 2% from a year ago. With the company’s venture into a new business, is EXAS stock a worthwhile opportunity?
Top Biotech Stocks To Buy [Or Sell] Before November 2020: Sinovac Biotech
Next up, Sinovac Biotech (SVA Stock Report) is also worth a closer look. The experimental vaccine it developed, Coronavac, appears to be safe in providing protection against the COVID-19 disease caused by the new coronavirus. As you may or may not know, Sinovac is the first drugmaker to disclose late-stage trial results. This puts China ahead in attempts to develop a vaccine against the novel coronavirus.
Based on a phase 3 test at one of Brazil’s leading biomedical research centers, Sao Paulo’s Butantan Institute, the vaccine proved to be safe after two doses were administered to 9,000 volunteers. There is a possibility that the vaccine can obtain regulatory approval by the end of the year. This would allow the inoculation of the population early in 2021. Of course, the nature of vaccines is such that promising results initially may still disappoint at the end. If you have been following news of vaccine development, you would know what I am talking about. With that in mind, would you take a chance on SVA stocks?
“The first results of the clinical study conducted in Brazil prove that among all the vaccines tested in the country, CoronaVac is the safest, the one with the best and most promising rates,” São Paulo Gov. João Doria told reporters in Brazil on Monday.
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Top Biotech Stocks To Buy [Or Sell] Before November 2020: CRISPR Therapeutics
CRISPR Therapeutics (CRSP Stock Report) gained some attention recently. This is after reporting interim information about its clinical trial of CTX110 in non-Hodgkin lymphoma patients. The drug candidate is an infusion of immune cells designed to recognize CD19, a protein that often appears on the surface of cancer cells.
If results from an ongoing study continue to impress, there could be enough demand for CTX110 to generate blockbuster sales for CRISPR Therapeutics. As of Sept. 28, 2020, investigators had treated four patients with the dosage strength selected for further study. The first two patients from this group have already achieved complete remission. The two more recently dosed with CTX110 haven’t gotten any worse. The company’s strategic partnership with Vertex Pharmaceuticals (VRTX Stock Report) also provides a competitive edge compared to its rivals.
The rapid pace of progress in gene editing is exciting. That’s because it holds promise for finding cures for some of the most severe disorders. The recent surge in stock price is putting this biotech stock on investors’ radar once again. The CTX110 study pointed to the wider results indicating pronounced anti-tumor effects in several of the advanced-stage patients. Even though we are looking at a very small dataset here, it is still a reason for some investors to be bullish. It looks to me that CRSP stock got caught up in a wave of selling that hit the market. But it still has the potential to rebound strongly. With positive signals from its data, should investors buy CRSP stock now?