Do You Have These Top Health Care Stocks On Your Watchlist Right Now?
With countries across the globe combating the coronavirus pandemic, health care stocks are still in the limelight. After all, this section of the stock market today is home to companies focused on this noble fight. If anything, the industry is more important than ever now with more variants of concern emerging across the globe. While most would be familiar with the Delta variant of the virus that spreads rapidly, the World Health Organization (WHO) recently flagged another one. According to WHO, the Lambda variant which originates from South America could possibly boast increased transmissibility or even increased resistance to neutralizing antibodies.
Regardless, with the coronavirus continuously mutating, many names in the health care industry will likely continue to step up. Evidently, biotech companies such as Pfizer (NYSE: PFE) and BioNTech (NASDAQ: BNTX) are actively adapting their vaccine strategies now. As of last week, the duo is developing a Covid-19 booster shot targeting the Delta variant of the virus. Should things go as planned this would see a third shot scheduled for recipients of the company’s vaccine candidate. Meanwhile, health care providers like Clover Health (NASDAQ: CLOV) are expanding and making their services more available to the general public. In theory, this could serve as a more preventative measure via maintaining the overall day-to-day health of individuals now.
By and large, most investors would also have a better understanding of the health care industry today. Accordingly, this would be the result of extensive media coverage of the topic over the past 18 months or so. Armed with knowledge and stimulus aid, I could see them eyeing the top health care stocks in the stock market. On that note, here are three making headlines this week.
Best Health Care Stocks To Watch In July
- Tempest Therapeutics Inc. (NASDAQ: TPST)
- Moderna Inc. (NASDAQ: MRNA)
- Celldex Therapeutics Inc. (NASDAQ: CLDX)
Tempest Therapeutics Inc.
Tempest is a clinical-stage oncology company that advances small molecules that combine both targeted and immune-mediated mechanisms. This form of therapy could potentially treat a wide range of tumors. Its two novel clinical programs are TPST-1495 and TPST-1120, are being studied as monotherapies and in combination with other approved agents. TPST stock currently trades at $24.19 as of Monday’s close and shares are up 54.37%.
Investors seem to be responding positively to the company’s announcement that Sam Whiting, its chief medical officer will be participating in a webcast panel titled “Developing Therapies for the Next Immuno-Oncology Targets”. Investors are likely expecting a major announcement at the event. Another piece of news that could be driving the stock up in valuation could be coming from a recent SEC filing. In a Schedule 13G, it was revealed that Rock Springs Capital Management LP has 642,155 shares in the company.
On June 22, 2021, the company also announced that its stockholders approved of the merger with Milendo Therapeutics. Through this merger, Milendo will facilitate the advancement of Tempest’s broad pipeline of targeted oncology programs. With its novel programs progressing in the clinic, the company says that access to public markets was of strategic importance. Given the excitement surrounding Tempest, will you consider adding TPST stock to your watchlist?
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Moderna Inc.
Moderna is a health care company that possesses a diverse clinical portfolio of vaccines and therapeutics across six modalities. Specifically, it has a broad intellectual property portfolio in areas including mRNA and lipid nanoparticle formulation. The company also has an integrated manufacturing plant that allows for both clinical and commercial production at scale and unprecedented speed. MRNA stock currently trades at $239.34 as of Monday’s closing bell and has been up by 232.47% in the past year.
Given how it was one of the first companies in the world to have its coronavirus vaccine approved in many countries, Moderna continues to make many supply agreements with countries for its vaccine. Today, for instance, Moderna announced a supply agreement with the government of Argentina for 20 million doses of its coronavirus vaccine to begin delivery in the first quarter of 2022. This batch of vaccines could also include its updated variant booster candidate, subject to regulatory approval.
Last week, the company also announced the first participants that have been dosed in the Phase 1/2 study of mRNA-1010, the company’s quadrivalent seasonal influenza mRNA vaccine candidate. The Phase 1/2 randomized study will evaluate the safety, reactogenicity, and immunogenicity of the vaccine candidate. Given the success of its mRNA vaccine efficacy, the company currently hopes for similar success in its flu vaccine. This is considering that current generation flu vaccines are only approximately 40-60% effective. Given this piece of news, will you watch MRNA stock?
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Celldex Therapeutics Inc.
Celldex is a clinical-stage biotechnology company that is developing monoclonal and bispecific antibodies to address devastating diseases for which currently available treatments are inadequate. Its pipeline includes antibody-based therapeutics which have the ability to engage the human immune system. Its therapeutics also have the potential to directly affect critical pathways to improve the lives of patients with inflammatory diseases and many forms of cancer. CLDX stock closed Monday’s trading session up over 25% at $40.67 a share.
Notably, the company is in focus today as it announced results from its Chronic Inducible Urticaria (CIU) clinical trials. In brief, CIU is a form of urticaria (commonly referred to as hives). Now, Celldex’s CIU drug candidate, CDX-0159, showed significantly positive results in its Phase 1b study. In detail, 95% of patients who received a single full dose of the treatment experienced a complete response. The company notes that said responses were “rapid, profound, and durable”.
Overall, CEO Anthony Marucci had this to say, “We believe these impressive early data show that CDX-0159 safely depletes mast cells which indicates its potential to impact other diseases with mast cell involvement. We continue to make excellent progress across the CDX-0159 development program in urticaria and expect to expand into prurigo nodularis later this year, and additional indications with mast cell involvement in the future.” Simply put, not only does Celldex’s CIU drug produce results, but it could also have applications among similar diseases. Should this be the case, would you consider CLDX stock worth watching?
