Looking For Top Health Care Stocks To Buy This Week? 3 To Watch.
Health care stocks are flourishing in the stock market this year. This is no surprise given the state of the world right now. With the coronavirus pandemic showing no signs of stopping, the demand for health care has skyrocketed all over the world. This spike in demand has obviously brought significant gains for these top health care stocks. A quick look at the S&P 500 Health Care, which covers a portfolio of large-cap medical stocks, is up by 46% since the stock market crash in March. This shows that these health care stocks have not only recovered from the crash but have made further gains since.
Moderna (MRNA Stock Report) is one example of a health care stock that has been making headlines recently. The company today said that it will request emergency clearance from the Food and Drug Administration (FDA) for its coronavirus vaccine. This is after new data confirming that the vaccine is more than 94% effective in preventing the coronavirus and is safe. The new analysis from Moderna had evaluated 196 confirmed infections from its phase 3 clinical trial of 30,000 participants. The company says that 185 cases were observed from its placebo group versus 11 cases observed in the group that received its vaccine.
Moderna would be the second drugmaker to seek emergency use from the FDA after Pfizer (PFE Stock Report) had applied for the same authorization on November 20. This is good news for the U.S. as some Americans could be getting the first doses of Moderna’s two-dose vaccine within a few weeks. It is a medical marvel that these companies were able to create an effective vaccine so quickly. With all things considered, here are 3 health care stocks to watch.
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Best Health Care Stocks To Buy [Or Sell]: Teladoc Health
Teladoc (TDOC Stock Report) is a multinational telemedicine and virtual health care company based in Texas. Its services include telehealth, medical opinions, AI, and analytics. The company is a world leader in virtual care. It is able to provide virtual care across numerous clinical specialties to help people resolve their medical problems. Teladoc shares are up by over 130% year-to-date and traded at $195.90 as of 1:31 p.m ET.
The health care company had just announced its third-quarter fiscal last month. Teladoc reported one of its best quarters in history as the company saw its revenue grow by 109% year-over-year to $288 million. The company also saw its total visits increase by 206% to 2.8 million patients. This strong growth is likely due to the stay at home orders and lockdown that has taken place all over the world. With that, people will have to find alternate ways for their health care needs. Teladoc would be one of those companies that could fulfill this role.
The company says that it is seeing significant market success and consistent growth throughout all of its commercial channels. Furthermore, it has just finished its acquisition of Livongo, a digital disease management company through a deal worth approximately $18.5 billion. Teladoc has also entered and expanded client partnerships with industry leaders including GuideWell, Johns Hopkins, and Telefonica. As more people get used to the idea of telemedicine, are TDOC stock worth adding to your portfolio?
Best Health Care Stocks To Buy [Or Sell]: Trillium Therapeutics Inc.
Trillium Therapeutics (TRIL Stock Report) is a health care company that has been in the limelight recently. The Ontario based company is a pioneer in the field of the immunotherapeutic blockade of the CD47 molecule. The main function of this cell surface protein in tumor cells is to prevent macrophagic activity. In layman’s terms, the CD47 acts as a “don’t eat me” signal for tumor cells. Trillium’s therapy could block this signal and allow the immune system to detect and destroy these tumor cells.
The company has enjoyed an explosive growth of over 1,200% year-to-date and shows no signs of stopping. In the company’s latest quarter report posted in November, Trillium had shown a strong quarter as it advanced its dose escalation of its CD47 anti-cancer platform immunotherapies, TTI-621 and TTI-622. Both therapies are safer and more efficacious than their predecessors. TTI-622 has also been showing early evidence of monotherapy activity, hence yielding very positive results.
The company has reported a cash balance of $292.4 million in its latest quarter compared to $22.7 million in December. This significant increase was mainly due to proceeds from financings completed in January and September this year. The company also received a $25 million equity investment from Pfizer and raised $150 million in a follow-on offering. With close to $300 million in cash, the company is well funded to embark on a Phase 3 program in heme and solid tumor malignancies in 2021. With such exciting development and backing from Pfizer, will TRIL stock be on your list of top health care stocks to buy?
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Best Health Care Stocks To Buy [Or Sell]: Twist Biosciences
Twist Bioscience (TWST Stock Report) is a health care company that manufactures synthetic DNA for clients in the biotechnology industry. Twist’s innovative method of DNA production enables the manufacture of high-quality synthetic DNA at a faster and more affordable rate. The company also boasts a high-throughput synthesis that is both scalable and fully customizable.
The company’s share price is up by over 400% year-to-date. In its full-year fiscal last week, the company reported a revenue of $90.1 million, an increase of 66% from a year earlier. The company also established 13 partnerships with 8 of these partnerships having milestones and/or royalties. CEO, Emily M. Leproust says “While we are proud of the new products we introduced to aid in the fight against COVID-19, which complemented our revenue, it was our core synthetic biology and next-generation sequencing (NGS) product lines that drove our overarching success”. She also noted that the company has aggressive plans for growth and expansion in fiscal 2021 and beyond.
In its latest quarter, Twist has formed the DNA Data Storage Alliance with leading technology and synthetic biology companies to create a comprehensive industry roadmap. This helps the industry to achieve interoperability between solutions. It would also help establish the foundations for a cost-effective commercial storage ecosystem for the explosive growth of digital data. This move would ultimately benefit Twist in the long run. Now that things are looking promising for Twist, will TWST stock be on your watchlist?
