5 Top Health Care Stocks To Watch In The Stock Market Now
Even with the holiday-shortened week for the stock market, there remain plenty of data points for investors to consider. Because of this, health care stocks could come into focus. For some context, key market movers in the week ahead would be the latest labor market figures and another update from the Fed. Regarding the earlier, the June job report is due on Friday morning and current consensus figures on Wall Street suggest a 275,000 increase. Secondly, the meeting minutes from the Fed’s June meeting will be available on Wednesday afternoon.
What would all this have to do with health care stocks might you ask? Well, for one thing, health care services, arguably, will remain relevant regardless of the state of the economy. For this reason, investors planning to navigate the current volatility in markets could be eyeing the health care space. After all, companies like Pfizer (NYSE: PFE) and Moderna (NASDAQ: MRNA) continue to make headway now. Just last week, Moderna received a unanimous endorsement from the CDC regarding the use of its coronavirus shot for kids ages 6 to 17. At the same time, Pfizer and BioNTech (NASDAQ: BNTX) are currently researching a universal coronavirus vaccine. Across the board, the health care industry continues to innovate and expand. After considering all this, will you be tuning in to this section of the stock market today?
Health Care Stocks To Buy [Or Sell] This Week
- Merck & Company Inc. (NYSE: MRK)
- Regeneron Pharmaceuticals Inc. (NASDAQ: REGN)
- Gilead Sciences Inc. (NASDAQ: GILD)
- Eli Lilly and Company (NYSE: LLY)
- UnitedHealth Group (NYSE: UNH)
Merck & Co. Inc.
Merck is a multinational health care company that is known as MSD outside of the U.S. and Canada. With over a century of experience in the industry, the company continues to use leading-edge science to save and improve lives around the world. In essence, it is a premier research-intensive company that is at the forefront of research to deliver innovative health solutions that advance the prevention and treatment of diseases in people and animals. Last week, the company announced an exciting piece of news.
Diving in, it announced the launch of the Merck Digital Sciences Studio (MDSS) to enable the generation of innovative technologies for drug discovery and development. MDSS will support early-stage biomedical startups with direct investment. It will also provide access to Azure Cloud computing and opportunities to pilot their technologies in collaboration with discovery and clinical scientists at Merck. With that in mind, should investors consider paying attention to MRK stock right now?
Regeneron Pharmaceuticals Inc.
Following that, we have Regeneron, a leading biotech company that develops life-transforming medicines for people with serious diseases. The company’s medicines and pipeline help patients with eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, pain, hematologic conditions, infectious diseases, and rare diseases. Through its VelociSuite technologies, it is accelerating and improving the traditional drug development process.
On July 1, 2022, the company announced that it has completed the acquisition of Sanofi’s stake in Libtayo, providing Regeneron with exclusive worldwide development, commercialization, and manufacturing rights to the medicine. On top of that, the company also announced that the FDA has accepted for review the Eylea Injection supplemental Biologics License Application for every 16-week 2 mg dosing regimen (after initial monthly doses) in patients with diabetic retinopathy (DR). The target action date for the FDA decision is February 28, 2023. Given all of this, should you consider investing in REGN stock?
Gilead Sciences Inc.
Gilead Sciences is another health care company that focuses on researching and developing antiviral drugs. Notably, its treats HIV/AIDS, hepatitis B, and hepatitis C among other diseases. Through bold and transformative science, Gilead is driving innovation that has the potential to become the next generation of life-changing medicines. On June 27, 2022, the company announced that it has resubmitted the New Drug Application (NDA) to the FDA for lenacapavir.
Lenacapavir is an investigational, long-acting HIV-1 capsid inhibitor, for the treatment of HIV-1 infection in heavily treatment-experienced (HTE) people with multi-drug resistant (MDR) HIV-1 infection. The NDA resubmission contains comprehensive CMC data to support the compatibility of lenacapavir with an alternative vial type made from aluminosilicate glass. In addition, the NDA has extensive pre-clinical and earlier clinical research data as well as data from the Phase 2/3 CAPELLA study, which evaluates the antiviral activity of lenacapavir administered every six months as a subcutaneous injection. The treatment is combined with other antiretrovirals, in heavily treatment-experienced people with multi-drug resistant HIV-1 infection. For this reason, should you pay attention to GILD stock?
Eli Lilly And Company
Eli Lilly is a pharmaceutical company. the company is involved in the global discovery, development, production, marketing, and sales of pharmaceutical products. The company offers medicines for cardiovascular conditions, diabetes, endocrinology, cancer, neurological problems, immune disorders, men’s health, and musculoskeletal problems. Through locations across the United States, including Puerto Rico, and eight more countries, the company manufactures and distributes its products.
Last week, Eli Lilly announced that it will supply the U.S. government with additional doses of its COVID-19 antibody medicine to meet demand until late August. The drug, bebtelovimab was authorized by the FDA earlier this year. Since then, the drug has been proven to be effective against the Omicron variant. With the agreement, the company will provide an additional 150,000 doses of bebtelovimab for about $275 million. Considering all of this, is LLY stock on your watchlist today?
UnitedHealth Group Inc.
UnitedHealth is an international managed healthcare and insurance company. In short, the company engages in the provision of health care coverage, software, and data consultancy services. The company operates through four segments, known as UnitedHealthcare, OptumHealth, OptumInsight, and OptumRx. Focusing on its Optum segments, Optum Health provides health and wellness care. In the meanwhile, Optum Insight serves the needs of health systems. Lastly, Optum Rx provides a range of pharmacy care services.
Recently, the Optum units of UnitedHealth announced the laboratory benefit management solution. Basically, the solution will help health plans reduce unnecessary lab testing and ensure the administration of the most appropriate tests to their members. According to the company, this new product can potentially bring about savings of more than $3 billion annually. Health plans can determine which tests are clinically proven, streamline decisions and automate processes with this solution. After reading all of this, would UNH stock be a buy now?