Are these 2 top pharmaceutical stocks on your watchlist for July 2020?
Pharmaceutical stocks have been interesting to watch in the market in the last few months. Many pharmaceutical stocks rose due to the pandemic. In addition, top pharmaceutical stocks have been advancing due to normal disease treatments as well. Yes, there’s an economic crisis but that doesn’t mean that all pharmaceutical stocks are being affected.
Pharmaceutical companies that have been able to stay open have seen great benefits. The continuation of development for medicine is necessary for us as a society. So companies making breakthroughs in the pharmaceutical field have their stock price rise up. This includes companies that have been developing treatments for the ongoing pandemic.
So many pharmaceutical stocks are on the rise. Announcements of new developments can cause the price to go up. In addition to announcements, breakthroughs can cause pharmaceutical stocks to rise as well. Now it’s time to talk about some pharmaceutical stocks to watch that have momentum in the stock market.
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Top Pharmaceutical Stocks To Buy [Or Sell] In July 2020: Ultragenyx Pharmaceutical
One pharmaceutical stock to watch is Ultragenyx Pharmaceutical Inc. (RARE stock report) as it just hit a 52 week high. Ultragenyx focuses on identifying, acquiring, developing, and commercializing treatments for rare genetic diseases. It operates out of the United States. It has helped many patients since it was founded in 2010. Recently the FDA approved Ultragenyx’s drug Crysvita that helps combat a disease affecting 500-1000 people in the US. In 2019 alone the drug brought in $103.7 million in revenue. The drug costs $160,000 a year for children and $200,000 a year for adults according to Ultragenyx.
This FDA approval has caused RARE stock to rise up to a new 52 week high. RARE stock price was around $72 a share before this announcement. Now shares of RARE stock are trading at $76 a share. This places RARE stock price higher than it was in February before the economic crisis began. This 5.5% increase in RARE stock made money for investors. If RARE stock continues to strive in the market it is due to Ultragenyx making more advancements.
This FDA approval will cause Ultragenyx to begin making a lot more profit as the treatment is used. It will be interesting to see where this pharmaceutical stock progresses to in the market.
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Top Pharmaceutical Stocks To Buy [Or Sell] In July 2020: REGENXBIO
The second pharmaceutical stock to watch is REGENXBIO Inc. (RGNX stock report). The company focuses on gene therapy to treat genetic defects in the body. This pharmaceutical company was founded in 2008 and has treated many patients since.
Shares of RGNX stock rose about 5.7% on June 22nd. This is due to its continuous advancements in the pharmaceutical sector. From February to March, RGNX stock price dropped dramatically. RGNX stock went from $54 a share on average to $21 a share at its low. This 61.11% decrease was very bad for investors of RGNX stock. On June 22nd RGNX stock price is around $37 a share. This means that RGNX stock is starting to recover. It isn’t near a full recovery yet, but RGNX stock price is still on the rise. If news is released about the companies trials or financials it has the potential to drive its stock price up.
Do you think it will be possible for RGNX stock to rebound? It is unsure but it is possible depending on how the pharmaceutical company performs.
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Bottom Line
We discussed the two pharmaceutical stocks to watch and why they could be on your watch list. RARE stock and RGNX stock have proven to be pharmaceutical stocks to watch due to their momentum in the market. As more advancements are made in the pharmaceutical sector, pharmaceutical stocks will continue to see more movement.
