Are These The Top Health Care Stocks To Buy Now?
Health care stocks may not be as hot as they were in the stock market back in 2020. However, there are always hidden gems waiting to be found in this sector. Amidst the global pandemic, could you imagine how severe the situation would be without proper access to health care services and heavy investments into the research of vaccination? Some may take health care for granted but the pandemic has reminded us of the importance of health care services. Fortunately, given the pace with which health care services and technology are advancing, many illnesses are no longer incurable.
For instance, Atossa Therapeutics Inc (NASDAQ: ATOS) will be holding a webinar on June 9, 2021, to discuss its latest clinical development. It will be releasing and discussing the final data from its Phase 2 study of Endoxifen administered to breast cancer patients prior to surgery. Investors reacted positively to the news and ATOS stock soared by over 80% over the past week. This reinforces the notion that health care stocks could bring huge gains if one conducts proper research. If this form of investment gets you excited, here’s a list of top health care stocks in the stock market today.
Top Health Care Stocks To Buy [Or Sell] Today
- Biogen Inc (NASDAQ: BIIB)
- Novo Nordisk A/S (NYSE: NVO)
- Eli Lilly And Co (NYSE: LLY)
- Medtronic PLC (NYSE: MDT)
Biogen is making the headlines right now and with good reasons. The company is a biopharmaceutical company that specializes in serious neurological, rare, and autoimmune diseases. On Monday, BIIB stock soared by a staggering 38.34% to close at $395.85. This came as investors responded favorably to Biogen’s latest news regarding its Alzheimer’s drug, ADUHELM™ (aducanumab-avwa).
On Monday, Biogen and Eisai, Co, Ltd (OTCMKTS: ESALY) announced that the FDA has granted accelerated approval for ADUHELM™ as the first and only Alzheimer’s disease treatment. The accelerated approval was granted based on data from clinical trials showing the effect of the drug on reducing amyloid-beta plaques, a biomarker that is likely to predict clinical benefit. In this case, a reduction in clinical decline.
This is a historic moment as decades of groundbreaking research have been dedicated to the field of Alzheimer’s disease. With this, there will be hope for people living with Alzheimer’s disease and hopefully spark continuous innovations in the years to come. Hence, would you consider BIIB stock a top health care stock to buy now?
Novo Nordisk A/S
Another trending health care company would be Novo. The company is a global health care company that engages in diabetes care. It also engages in the discovery, development, manufacturing, and marketing of pharmaceutical products. Essentially, it operates two segments, diabetes, and obesity care. NVO stock has risen over 25% over the past year.
Last week, the company finally gained the FDA approval for a once-weekly Wegovy (semaglutide) 2.4 mg injection, for chronic weight management. Wegovy is the first weight management drug approved for chronic obesity and overweight adults since 2014. Based on its phase 3 data, this drug will be used in conjunction with diet and exercise. The data shows that the drug helped one-third of patients lose more than 20% of their body weight over the 68-week trial period.
The drug would likely be a big hit once it hits the market as nearly 70% of American adults are affected by obesity. The drugmaker said it is expecting the launch in late June 2021. This is a big win for Novo which has seen its core insulin business face steep competition, prompting it to turn to newer diabetes and obesity drugs. With that in mind, would you consider buying NVO stock?
Eli Lilly And Co
Eli Lilly and Company is a drug manufacturing company. Essentially, it discovers, develops, manufactures, and markets products in a human pharmaceutical product segment. It appears that LLY stock has benefitted from the groundbreaking news of Biogen’s FDA approval for the Alzheimer’s disease drug. The stock soared by 10.15% and went as high as $233.33 on Monday’s trading session.
So why would Biogen’s drug act as a catalyst to boost Lilly? This is because the company also has a drug candidate for treating Alzheimer’s disease which showed promising results from its phase 2 study. The drug known as Donanemab showed significant slowing of cognitive decline in patients with early Alzheimer’s compared to placebo. Thus, it is possible that investors are optimistic and hope that Lilly will also gain its approval for its drug candidate soon.
On top of that, the company and Incyte (NASDAQ: INCY) also suggested that OLUMIANT® (baricitinib) 4 mg tablet could reduce pain and duration of morning joint stiffness, and improve overall physical function at 12 weeks. In the test compared with HUMIRA® (adalimumab) and placebo, the tested patients are those with moderate to severe rheumatoid arthritis. This is significant because, despite available treatment options, patients still live with symptoms that may limit their day-to-day activities. All things considered, would you bet on LLY stock’s future?
Last on the list, we have the medical technology and services company, Medtronic. It develops, manufactures, and markets its medical devices to approximately 160 countries. If you are a fan of a stock that climbs slowly but consistently, then MDT stock may be the one for you. The stock has climbed by over 20% over the past year.
On Tuesday, Medtronic announced the clinical trial results from the STROKE AF trial demonstrating the superiority of the Reveal LINQ™ Insertable Cardiac Monitor (ICM) to detect abnormal heartbeats. The company compares it to the standard of care in both large and small vessel stroke patients. It is a known fact that Atrial Fibrillation (AF) is a major risk factor for ischemic stroke. In fact, the risk increases by five-fold in AF patients. So, higher rates of detection of AF are of high importance.
Furthermore, the company has also gained FDA approval for the first U.S. implants of the SenSight™ Directional Lead System used for Deep Brain Stimulation (DBS) therapy. This would allow physicians to deliver precise, patient-specific DBS therapy for the treatment of certain symptoms associated with movement disorders. Given all the recent developments of the company, would now be the best time to invest in MDT stock?