Top biotech stocks to invest in today? 3 to watch this week | News

Are these the best biotech stocks to buy right now?

Even with the hotter-than-expected inflation data, investors would probably be looking for the most active stocks today. If this were the case, biotech stocks would be a viable option in the stock market now. For the most part, this would be the case as the industry continues to churn out new updates to the development pipeline. The likes of which can act as catalysts for major biotech stocks. On the one hand, companies gaining momentum from regulatory updates could draw attention as markets react to the latest inflation numbers.

For those unaware, the Bureau of Labor Statistics consumer price index (CPI) reading for May was released last week. According to the report, the May CPI rose 8.6% year over year. This would be above economists’ consensus estimates of an 8.3% rise. Not to mention, it would also be the biggest jump in this key inflationary measure since 1981. With inflation at a 40-year high, more adventurous investors might be eyeing the names making headlines in the biotech space right now.

Drink blue bird biography (NASDAQ:BLUE) for example. Last week, the company received a positive update on its gene therapy, eli-cel. According to Bluebird, the US Food and Drug Administration (FDA) advisory committee unanimously endorsed the treatment for use in early active cerebral adrenoleukodystrophy. At the same time, manufacturers of coronavirus vaccines such as modern (NASDAQ: MRNA) are also hard at work. Earlier this week, the company revealed that its updated booster vaccine produces stronger responses against the Omicron variant of the virus. With all that in mind, here are three other biotech stocks to stand out in the stock market today.

Biotech stocks to buy [Or Sell] This month

pfizer inc.

Pfizer is a biotech company that continues to bring life-saving therapeutics, drugs, and vaccines to the masses. With more than 170 years of experience in the industry, it promotes wellness and treatments for some of the most challenging diseases in today’s society. This includes its coronavirus vaccine with more than 2 billion doses shipped worldwide.

On Thursday, the company announced that it completed the acquisition of ReViral. ReViral is a private clinical-stage biopharmaceutical company. It focuses on discovering and commercializing new antiviral therapies that target respiratory syncytial virus (RSV). Accordingly, ReViral brings to Pfizer a pipeline of promising therapeutic candidates, including sisunatovir, an orally administered inhibitor designed to block fusion of the RSV virus with the host cell. Sisunatovir has fast track designation by the US FDA. It has significantly reduced viral load in a phase 2 human RSV challenge study in healthy adults. The treatment is also currently in phase 2 clinical development in infants.

Additionally, Pfizer recently announced that it plans to spend $120 million to produce its Paxlovid oral treatment for coronavirus. In short, the investment will expand into the production of active pharmaceutical ingredients (APIs) and registered raw materials. These are used in the manufacture of nirmatrelvir, which is one of the components of Paxlovid. The investment will help expand the facility in Kalamazoo, Michigan. Taking all of this into account, is it worth investing in PFE shares right now?

PFE Stock Chart
Source: TD Ameritrade TOS

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AbbVie Inc.

Following that, we have AbbVie, a healthcare company that discovers and develops innovative medicines that help solve serious health problems plaguing the world today. It has an impressive portfolio of treatments in several key fields such as oncology and immunology. The company has been firing on all cylinders lately with multiple announcements of positive findings in recent months.

In particular, this would include positive results from their Phase 3 SELECT-AXIS 2 trials of Upadacitinib. Delving deeper, it demonstrated significantly greater improvements in signs and symptoms, pain, function, and health-related quality of life compared to placebo at week 14. In addition, the safety data were consistent with the known safety profile. of upadacitinib, with no new risks observed. “The new data seen in SELECT-AXIS 2 reinforces the potential of upadacitinib for patients across the disease spectrum of axial spondyloarthritis.” said Neil Gallagher, MD, Ph.D., AbbVie’s vice president of development and chief medical officer. “At AbbVie, patient needs drive us to continue to innovate new ways to change the treatment landscape. We are encouraged by these positive data, which we hope will lead to the availability of a new treatment option for patients with nr-axSpA.”

Last week, it also announced new data from Cohort 3 of its Phase 2 REFINE study of investigational navitoclax. Navitoclax is used for patients with myelofibrosis (MF), a rare and difficult-to-treat blood cancer. Data support early intervention in MF to achieve better clinical outcomes in reducing spleen volume, symptom score, and bone marrow fibrosis. With all this in mind, are ABBV shares a buy in your opinion?

ABBV Stock Chart
Source: TD Ameritrade TOS

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novavax inc.

Another notable player in the biotech space right now would be Novavax. In general, the biotech company specializes in developing vaccines to treat infectious diseases. As it stands, the company’s portfolio consists of vaccines against Ebola, influenza, and respiratory syncytial virus, among other emerging infectious diseases. It’s also worth noting that the company is actively working on a coronavirus vaccine. Thanks to the latest developments on this front, NVAX stock is worth keeping an eye on.

In detail, Novavax received a green light from the FDA advisory panel regarding the use of its coronavirus vaccine in adults. Following a 21-0 vote, the FDA now recommends the company’s vaccine for Emergency Use Authorization (EUA). This would make Novavax the fourth company to receive this regulatory feat. Furthermore, it is also the first protein-based coronavirus vaccine available in the US.

Overall, CEO Stanley Erck notes that the positive feedback from the advisory panel shows the strength of Novavax’s clinical data. In addition to that, he also argues that he highlights the importance of developing a protein-based coronavirus vaccine. Since this is a more conventional means of vaccine development, health officials could appeal to the unvaccinated population now. Taking all of this into account, will you be adding NVAX stock to your portfolio any time soon?

NVAX Stock Chart
Source: TD Ameritrade TOS

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