Are These The Best Health Care Stocks To Invest In Right Now?
As investors consider the current state of the stock market now, health care stocks could become increasingly viable plays. Overall, this would be understandable seeing as markets are having a mostly rocky start to 2022. Between surging inflation, increasing coronavirus infections and a less-than-ideal start to the earnings season from banks, investors could be turning to more vital industries. In turn, this could be where health care stocks come into play.
If anything, there is no shortage of exciting news to consider in the health care world now. On one hand, you have upcoming names in the biotech space making groundbreaking discoveries and strategic plays. Take Mainz Biomed (NASDAQ: MYNZ) for instance. Since acquiring the exclusive rights to Novel mRNA biomarkers via a deal with Socpra Sciences, MYNZ stock has doubled in value. In theory, the deal allows Mainz Biomed to employ these biomarkers in the development of ColoAlert. This would be its at-home screening test candidate for colorectal cancer.
At the same time, pharmaceutical giants such as Pfizer (NYSE: PFE) continue to press forward as well. On the heels of its life-saving work on the coronavirus vaccine, Pfizer is now looking towards universal flu vaccines. Just last week, Pfizer’s VP of Viral Vaccine Research highlight that mRNA vaccines could help in the development of “higher potency flu vaccines.” Nevertheless, the health care industry remains as busy as ever now. Could one of these health care stocks be your next big investment?
Top Health Care Stocks To Buy [Or Sell] Right Now
- Theseus Pharmaceuticals Inc. (NASDAQ: THRX)
- Prometheus Biosciences Inc. (NASDAQ: RXDX)
- UnitedHealth Group Inc. (NYSE: UNH)
- Moderna Inc. (NASDAQ: MRNA)
- Allogene Therapeutics Inc. (NASDAQ: ALLO)
Theseus Pharmaceuticals
Theseus Pharmaceuticals is a biotech company that strives to improve the lives of cancer patients. It is led by a team of targeted oncology pioneers with a proven track record for developing and commercializing cancer therapeutics. Its lead program, THE-630 is a pan-variant KIT inhibitor for patients with advanced gastrointestinal stromal tumors (GIST). THRX stock enjoyed gains of over 20% on Friday.
This seems to follow news that it announced in the earlier part of last week. Diving in, it announced that the first patient has been treated in the Phase 1 portion of Theseus’ ongoing Phase 1/2 trial to evaluate its THE-630 candidate in GIST patients.
“Patients with unresectable or metastatic GIST who have exhausted standard therapies have limited treatment options and poor clinical outcomes. GIST disease progression remains largely KIT-dependent even after multiple lines of therapy, and a significant unmet need remains for these patients,” said Suzanne George, M.D., Clinical Director, Center for Sarcoma and Bone Oncology at Dana-Farber Cancer Institute. Given this piece of news, is THRX stock worth paying attention to this week?
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Prometheus Biosciences
Prometheus Biosciences is a biotech company that pioneers precision medicine for the discovery and development of novel therapeutics and companion diagnostic product candidates. The company focuses on both gastrointestinal and autoimmune diseases. Through its power precision medicine platform, Prometheus360, it combines proprietary technology with the world’s most comprehensive collection of inflammatory bowel disease (IBD) patient data. RXDX stock is up by over 39% in the past year alone.
Last week, the company provided a corporate update at the 40th Annual J.P. Morgan Healthcare Conference. In it, the company announced that the U.S. Food and Drug Administration (FDA) has granted Fast Track Designation for Prometheus’ lead therapeutic candidate, PRA023 for the treatment of Systemic Sclerosis-Associated Interstitial Lung Disease (SSc-ILD).
Based on its positive topline Phase 1 results and this Fast Track Designation, the company believes that PRA023 is well-positioned to deliver and have a broad impact on patients with SSc-ILD. If it were to prove successful in its Phase 2 clinical trials, Prometheus would seek Breakthrough Therapy Designation in SSc-ILD given that there are no approved disease-modifying therapies in the market today. For this reason, is RXDX stock a health care stock to invest in right now?
UnitedHealth Group
UnitedHealth Group is a multinational health care and insurance company. The company is dedicated to helping people live healthier lives and making health care work for everyone. It offers a full spectrum of health benefit programs for individuals, employers, and Medicare and Medicaid beneficiaries.
It also contracts directly with more than 1.3 million physicians and care professionals. Furthermore, UnitedHealth provides health benefits and delivers care to people through its health care facilities in South America.
On January 12, 2022, the company’s Optum subsidiary launched a new evidence engine to advance genomics-based disease detection and treatment. The Optum Evidence Engine will accelerate the generation of clinical validity and utility evidence for molecular diagnostics. It also helps standardize evidence requirements and speeds the adoption of precision medicine. With that being said, is UNH stock a top health care stock in your books?
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Moderna
Following that, we have Moderna, a pharmaceutical and biotechnology company that focuses on RNA therapeutics, primarily through its messenger RNA (mRNA) vaccines. The company has a broad intellectual portfolio in mRNA and lipid nanoparticle formulation.
It also has an integrated manufacturing plant that facilitates both clinical and commercial production at scale and at an unprecedented speed. MRNA stock is up by over 60% in the past year.
For one thing, the company continues to press forward on the operational front. Notably, CEO Stephane Bancel recently provided an update on Moderna’s work with the Omicron coronavirus variant. Bancel notes that Moderna’s answer to the prominent variant is “being finished,” with clinical data incoming. To be precise he notes that data could arrive by March 2022. After considering all this, would you consider MRNA stock a buy at its current value?
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Allogene Therapeutics
Another name to consider among health care firms now would be Allogene Therapeutics. In brief, it is a clinical-stage biotech firm that focuses on researching treatments for cancer. Not to mention, the company is a pioneering player in the development of allogeneic chimeric antigen receptor T cell (AlloCAR T) products. According to Allogene, the company is hard at work on its pipeline of off-the-shelf CAR T cell product candidates. The likes of which will, ideally, serve as an on-demand cell therapy to patients at a larger scale.
Notably, ALLO stock ended last week with gains of over 8%. Accordingly, this could be on account of its latest collaboration. As of last week, the company is currently working with Antion Biosciences, a Swiss biotech firm. Through the current agreement, Allogene currently has a global license to use Antion’s miRNA tech (miCAR). In doing so, Allogene is looking to advance its work on a multiplex gene silencing tool.
Subsequently, this will be crucial in developing next-gen allogeneic CAR T offerings. According to Allogene CMO Dr. Rafael Amado, miCAR can deliver a “high degree of specificity and potency,” on this front. Because of all this, will you be adding ALLO stock to your watchlist?
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