Are These Top Pharmacy Stocks On Your Watchlist In Q4 2020?
The market for pharmaceutical stocks has been interesting to watch in 2020. Companies developing coronavirus vaccines are increasing their market share. But when one company makes advances it will cause other companies stock to fall. The coronavirus pandemic has taken the world by surprise and people are searching hard for a vaccine. There are some biotech companies like Pfizer Inc. (PFE Stock Report) and BioNTech (BNTX Stock Report) that have been increasing in price. But investors are also looking at the top pharmaceutical stocks as a way to profit this year.
Pharmaceutical stocks involving pharmacies have been performing positively as well. Pharmacies are a necessary place for people to go especially during these times. Many pharmacies are offering curbside pickup and contactless options for picking up medicines. This is to reduce the risk of people getting COVID-19 by keeping them in their cars and away from others. So let’s look at three pharmaceutical stocks that are trending in the market.
Top Pharmaceutical Stocks To Watch In 2020: Walgreens Boots Alliance Inc.
The first pharmaceutical stock to watch is Walgreens Boots Alliance Inc. (WBA Stock Report). Walgreens Boots Alliance was merged in 2014 after Walgreens purchased Alliance Boots in full. Walgreens paid $4.9 billion and 144.3 million shares in this deal. The company primarily operates the Walgreens and Boots brands.
WBA stock was at around $54 a share before the pandemic arrived. Now, WBA stock price has been going down with time.
Back in July the company announced that every single store will be offering same day curbside pickup. But also in July, the CEO of Walgreens decided to step down. Generally a large positional change such as this one will cause a stock to fall. Yet still, in the last 5 days as of September 21st, WBA stock is performing well. On September 15th, WBA stock was at $34 a share and it has now reached $35 a share on the 21st. That is why WBA stock is on this list of pharmaceutical stocks to watch.
Top Pharmaceutical Stocks To Watch In 2020: CVS Health Corporation
The second pharmaceutical stock to watch is CVS Health Corporation (CVS Stock Report). CVS Health Corporation owns the popular CVS Pharmacy retail chain. The company was founded in 1963 and has grown to be a very large company since. CVS Health Corporation ranked eighth on the Fortune 500 list of companies. In 2019 CVS Just like WBA, CVS was badly affected by the pandemic. CVS stock was at around $72 a share before the pandemic again. Then trouble arrived for CVS stock price after the pandemic began, dropping it to $52 a share in March.
On August 5th, the company released second quarter results. Some highlights include 3% revenue increase to $65.3 billion, and opened more than 1800 test sites for covid-19 at its drive thru’s. Despite this good news, the stock has not managed to recover.
The president and CEO, Larry J. Merlo stated, “We have a strong foundation of clinical expertise, data analytics and digital capabilities, and unmatched consumer and community reach which has allowed us to rapidly bring our strategy to life at an unprecedented time. The environment surrounding COVID-19 is accelerating our transformation, giving us new opportunities to demonstrate the power of our integrated offerings and the ability to deliver care to consumers in the community, in the home and in the palm of their hand which has never been more important.”
That is why CVS stock has entered this list of pharmaceutical stocks to watch.
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Top Pharmaceutical Stocks To Watch In 2020: Rite Aid Corporation
The last pharmaceutical stock to watch is Rite Aid Corporation (RAD Stock Report). Rite Aid is a pharmaceutical company that operates a chain of retail drugstores throughout the United States. Its pharmacy sells prescription drugs and other merchandise. So why has Rite Aid Corporation made this list?
Well, the company has announced it will release financial results for the second quarter on September 24th. These financial results could be very telling for where RAD stock price ends up next.
With Rite Aid service more than 1.6 million Americans every day, it holds a significant amount of market share. The company has more than 2400 locations in the United States. Additionally, its Elixir program that provides pharmacy benefits and services, is used by more than 4 million people worldwide. So when these financial results are released, we will know for sure how the company is managing to perform in recent months. That is what makes RAD stock a pharmaceutical stock to watch.