4 Top Health Care Stocks For Your Q4 Watchlist
In times of volatility in the stock market, investors often turn to health care stocks. For the most part, this could be the case now given the current movement in the market. On one hand, earnings season seems to be kicking off on a high. This is evident as industry giants such as Delta Air Lines (NYSE: DAL) and JPMorgan (NYSE: JPM) post solid figures. Arguably, these numbers would suggest that the economy is on the rise, given the cyclical-based nature of their businesses. On the other hand, supply chain pressures and inflation jitters continue to hang over the broader market as well. As such, some would argue that health care stocks could be worth watching in the stock market today.
Notably, there is also no shortage of news for investors to digest from the industry now as well. Like with most developments regarding the pandemic, booster shot news continues to put Moderna (NASDAQ: MRNA) and Johnson & Johnson (NYSE: JNJ) in the limelight. With the FDA set to review the need for additional doses from these firms, this is not surprising. Elsewhere Jasper Therapeutics (NASDAQ: JSPR) is in a similar position as well. This would be mostly thanks to Oppenheimer (NYSE: OPY)analyst Jay Olson hitting JSPR stock with an Outperform rating. With all this activity in the space, could one of these players be top health care stocks to consider now?
Best Health Care Stocks To Watch Right Now
- Ocugen Inc. (NASDAQ: OCGN)
- Pfizer Inc. (NYSE: PFE)
- UnitedHealth Group Inc. (NYSE: UNH)
- Revance Therapeutics Inc. (NASDAQ: RVNC)
Ocugen Inc.
Ocugen is a biopharmaceutical company that is developing gene therapies to cure ocular diseases and also developing its coronavirus vaccine. By using its breakthrough modifier gene therapy platform, it has the potential to treat multiple retinal diseases with one drug. OCGN stock has shot up by over 25% since the start of the week. This latest rally could be due to investors responding positively to the company’s partner Bharat Biotech.
On Tuesday, India had recommended the emergency use of Bharat’s coronavirus vaccine shot in children below 12 years of age, making it the first vaccine maker in the country to get such an approval after a review of its trial data for the 2 to 18 age group. Named Covaxin, it is co-developed by both Ocugen and Bharat. It uses an inactivated coronavirus with an immunity booster and is among the three shots that are being used in India as part of the vaccination drive for adults. With that being said, should investors consider adding OCGN stock to their portfolios?
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Pfizer Inc.
Next up on this list of health care stocks, we have Pfizer. The company is a titan in the industry and has over 25,000 clinical researchers testing every day with pharmaceutical development and innovation at its focus. Also, its therapeutic areas include internal medicine, rare diseases, oncology, and vaccines among others. Impressively, it also boasts a pipeline of over 90 new pharmaceutical drugs at various clinical stages. Recently, The Wall Street Journal reported that Pfizer’s vaccine is the world’s preferred shot as countries from Latin America to the Middle East have all relied on the company for its vaccine.
In late September, the company announced that the Japanese Ministry of Health, Labour, and Welfare (MHLW) has approved Cibinqo, an oral, once-daily Janus kinase 1 inhibitor. The drug will be used to treat moderate to severe atopic dermatitis in adults and adolescents aged 12 years and older with inadequate response to existing therapies.
“There have been limited treatment options available for moderate to severe atopic dermatitis and we’re hopeful for the positive impact CIBINQO may have on the lives of people in Japan living with this chronic and potentially debilitating disease,” said Angela Hwang, Group President, Pfizer Biopharmaceuticals Group. The company also says that it will ensure that Cibinqo is routinely accessible to as many patients as possible. For these reasons, will you add PFE stock to your watchlist?
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UnitedHealth Group Inc.
Following that, we have UnitedHealth Group, a multinational managed health care and insurance company with headquarters in Minnesota. In essence, it is a diversified health care company that offers a broad spectrum of products and services through two distinct platforms. Namely, this would include UnitedHealthcare, which provides health care coverage and benefits services, and Optum, which provides information and technology-enabled health services.
On October 7, 2021, the company announced an innovative collaboration with SSM Health on making quality care more accessible and affordable to people across the Midwest. Accordingly, the companies will partner across functions like inpatient care management and digital transformation to improve health outcomes and patients’ health care experiences. Furthermore, the two companies will use clinical technologies, advanced analytic tools, and the delivery of data-driven insights at the point of care to improve health care needs. With this piece of information, is UNH stock worth watching right now?
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Revance Therapeutics Inc.
Topping off our list today is Revance Therapeutics. In brief, the Tennessee-based biotech firm specializes in developing aesthetic and therapeutic offerings. Among its core products would be its next-generation neuromodulator, DaxibotulinumtoxinA (DA) for Injection. Through DA for Injection, Revance hopes to treat glabellar lines, vertical creases that develop between the eyebrows. Additionally, the company is also actively working with Viatris (NASDAQ: VTRS) to develop a “biosimilar” to Botox.
By and large, this could be due to its latest update on DA for Injection. Namely, Revance is currently pursuing a Biologics License Application (BLA) for DA from the FDA. Earlier today, the company reaffirmed its confidence in its BLA submission and anticipates FDA approval later this year. Should this be the case, it would mark a significant win for Revance.
Furthermore, the company also launched a first-of-its-kind “relational commerce platform” earlier this week, OPUL. With OPUL, Revance is looking to provide a one-stop digital destination for consumers in the growing aesthetic industry. According to Revance, the platform will also serve to foster “increased customer loyalty and retention” in the long run. Because of all this, could RVNC stock be worth keeping an eye on for you?
