Trending Health Care Stocks To Watch In The Stock Market This Week
As talks of a possible recession by the end of the year arise, investors could be thinking of rotating towards more defensive positions. As such, they could consider investing in health care stocks. This comes as health care stocks encompass a broad range of companies that are normally more resilient to a volatile market. These include drug retailers, insurance providers, hospitals, and biotech companies as well. Given the fact that health care is a necessity, there will always be a demand for the products and services that these companies provide. Hence, investing in health care stocks could make for a viable play during an uncertain market.
Investors could consider the likes of Pfizer (NYSE: PFE). Being at the forefront of the pandemic, most would be familiar with the company that brought the Covid-19 vaccine to billions. Its antiviral Covid-19 pill, Paxlovid, is also in high demand. As a matter of fact, Taiwan just placed an order of 700,000 units of the company’s Paxlovid antiviral Covid-19 pill. Apart from Pfizer, investors could also consider Lyra Therapeutics (NASDAQ: LYRA). Last week, the company announced that it has entered into a securities purchase agreement to sell securities in a private placement. The gross proceeds from the placement are expected to be approximately $100.5 million, which would help fund the company’s plans. And on that note, check out these four health care stocks in the stock market today.
Health Care Stocks To Watch Right Now
- Veru Inc. (NASDAQ: VERU)
- Zynex Inc. (NASDAQ: ZYXI)
- Eli Lilly And Company (NYSE: LLY)
- BioNTech SE (NASDAQ: BNTX)
Veru
Starting us off today is Veru, a biopharmaceutical company that engages itself primarily in oncology. Veru’s strategy mainly focuses on the clinical development and commercialization of oncology drugs. Particularly, it focuses on breast cancer and prostate cancer, two of the most prevalent cancers globally.Products in its breast cancer development portfolio include Enobosarm and Sabizabulin. As for its prostate cancer portfolio, it includes Sabizulin, VERU-100, and Zuclomiphene citrate. This week, VERU stock skyrocketed over 130% as its Sabizulin drug made headlines.
Cutting to the chase, Veru proudly announced yesterday the positive efficacy and safety results of its Phase 3 Covid-19 clinical trial evaluating sabizabulin. In detail, the trial evaluates oral sabizabulin against placebo in 150 hospitalized Covid-19 patients at high risk for Acute Respiratory Distress Syndrome (ARDS). As such, sabizabulin is now the first drug to demonstrate a clinically and statistically meaningful reduction in deaths of hospitalized patients with Covid-19. Mitchell Steiner, CEO of Veru, added “We strongly believe that sabizabulin, with its dual anti-viral and anti-inflammatory properties which demonstrated positive efficacy and safety results in the Phase 3 COVID-19 study, can be that greatly needed oral therapy for hospitalized moderate to severe COVID-19 patients.” With this in mind, would VERU stock make your list of top health care stocks to buy today?
Zynex
Following that, we have Zynex. Through its subsidiaries, Zynex markets electrotherapy products that help improve the lives of patients who have functional disabilities. The Company’s offerings include devices for pain management, neurological diagnosis and cardiac monitoring. Zynex products are intended for home use for stroke rehabilitation, spinal cord injury rehabilitation, incontinence, and other applications. Over the past month, ZYXI stock has seen an impressive rise of over 30%.
Last Friday, the company announced preliminary results for its first-quarter 2022 financials. The medical device company sees $30.5 to $31.5 million in unaudited revenue, signaling an estimated 26% year-over-year increase. Next to that, the company is looking at $3 to $4 million in EBITDA. Apart from this, Zynex also reaffirmed its guidance for the full fiscal year of 2022. Namely, it forecasts revenue to range between $150 million to $170 million. Earnings, on the other hand, is expected to be between $25 million to $35 million. Given the upbeat preliminary results, should investors be keeping an eye on ZYXI stock?
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Eli Lilly and Company
Another top health care stock to watch is Eli Lilly and Company (LLY). It is a leading pharmaceutical firm that has operations that span across the globe. For a sense of scale, the company has offices in 18 countries while its products are sold in approximately 125 countries. In brief, the company’s portfolio includes treatments for various diseases including diabetes, cancer, endocrine-related illnesses, and Covid-19 to name a few. In the past year, LLY stock has seen gains of over 65% which would likely make many investors happy.
Last Wednesday, Morgan Stanley (NYSE: MS) analyst Terence Flynn raised the price target on MS stock from $265 to $364. At the same time, the analyst also maintained an “Overweight” rating on the company. Flynn cites LLY as having the most robust new product cycle and growth outlook in the pharmaceutical industry. This is because the company could be launching five new drugs over the next two years. On top of that, two of the aforementioned five drugs are forecasted to hit 2030 sales above $5 billion. With LLY’s prospects looking up, is LLY stock a buy?
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BioNTech
BioNTech is a biopharmaceutical company that has pioneered novel therapies for cancer and other serious diseases. Accordingly, the company exploits a wide array of computational discovery and therapeutic drug platforms for the rapid development of novel biopharmaceuticals. Thanks to its deep expertise in mRNA vaccine development and its in-house manufacturing capabilities, the company created one of the first mRNA vaccines in the world to treat Covid-19. Earlier in the month, the company reported its fourth-quarter and full-year financials.
Diving in, revenues for the quarter grew by over 1,000% year-over-year to $6.16 billion on strong vaccine sales. In fact, BioNTech has sold over 2.6 billion doses of its vaccine to more than 165 countries and regions worldwide in 2021. This also includes more than 1 billion doses to low- and middle-income countries. It also says that it has signed orders for 2022 delivery of up to 2.4 billion vaccine doses. Its net profit for the quarter also rose by over 700% to $3.53 billion. Also, BioNTech announced that its global Covid-19 supply chain and manufacturing network now includes 20 manufacturing facilities that span across four continents. With this strong quarter in mind, should investors be on the lookout for BNTX stock?
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