3 Health Care Stocks To Check Out For The New Year
Even with the stock market seemingly riding a potential Santa rally this week, the pandemic continues to rage on. As a result, investors may want to consider keeping an eye on health care stocks now. To highlight, the Omicron Covid-19 variant continues to wreak havoc in populations worldwide. Namely, this would be due to its highly infectious yet less severe nature. Because of all this, governments across the globe are scrambling to reinstate pandemic restrictions. So much so that even White House Chief Medical Advisor Dr. Anthony Fauci weighed in on the matter yesterday. According to Dr. Fauci, the U.S. should consider implementing a vaccine mandate for domestic air travel.
For investors, all of this could put the top health care stocks in the stock market today in focus again. In particular, Covid-19 related companies such as Novavax (NASDAQ: NVAX) and Merck (NYSE: MRK) are making waves in the market. On one hand, Novavax could be looking to file for regulatory approval for its Covid-19 vaccine candidate with the U.S. FDA this week. This comes just as the company recently found that its vaccine “is effective in generating an immune response against the Omicron variant”.
On the other hand, Merck is breaking new ground in international markets with its Covid-19 treatment. Earlier today, India approved its pill alongside two other vaccines for emergency use. This would be a timely approval for the world’s second-most populous country as Omicront variant cases spike. At the same time, investors can also choose from more defensive stocks like Walgreens Boot Alliance (NASDAQ: WBA). The health care giant has been raising its dividend for the past 46 consecutive years. As such, could one of these health care stocks be your next big investments?
Top Health Care Stocks To Watch Ahead Of 2022
- Microbot Medical Inc. (NASDAQ: MBOT)
- Cue Health Inc. (NASDAQ: HLTH)
- Cassava Sciences Inc. (NASDAQ: SAVA)
Microbot Medical Inc.
Microbot Medical is a medical device company that specializes in transformational micro-robotic technologies. It focuses on primarily natural and artificial lumens within the human body. Its proprietary technology platform provides the foundation for the development of a Multi-Generation Pipeline Portfolio (MGPP). MBOT stock currently trades at $7.90 as of 2:45 p.m. ET and is up by over 35% in the past 5 trading sessions.
Investors are likely responding to news that Microbot has entered into a strategic collaboration with Stryker (NYSE: SYK), a leading global medical technology company. In essence, the company will collaborate with Stryker’s Neurovascular division to integrate its neurovascular instruments with Microbot’s LIBERTY Robotic System. Together, they will develop the world’s first dedicated robotic procedural kits for use in certain neurovascular procedures.
This builds on the company recently announcing that it has secured the third patent for its LIBERTY Robotic System as well. Globally, the Company now has 47 patents issued/allowed and 26 pending patent applications and is continuously submitting applications to protect its Intellectual Property. The claims will protect embodiments of LIBERTY as a compact robotic device for driving the movement of two or more elongated surgical tools. Given all of this, is MBOT stock worth investing in right now?
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Cue Health Inc.
Following that, we have Cue Health, a health care company that provides diagnostic and health information to its users. It enables people to manage their health through actionable and connected health information, offering easy access to lab-quality diagnostics anywhere and anytime. In March 2021, the FDA authorized the use of the company’s Covid-19 test kit for at-home and over-the-counter use. Cue Health is the maker of the first molecular diagnostic test for Covid-19 that was approved by the FDA.
Last week, the company announced its first airline partnership with Air Canada to provide U.S.-based passengers with access to Cue’s molecular Covid-19 test, one of the most accurate self-tests on the market. “To meet the COVID-19 testing needs of modern travelers today, we are proud to be able to offer the premier at-home testing solution for COVID-19, which is not only the most accurate but is also convenient, fast, and easy to use,” said Clint Sever, Co-Founder and Chief Product Officer of Cue. “Together with Air Canada, we can now equip U.S. passengers with access to their health information in real-time, providing people with much-needed peace of mind before and after their flights.”
The company also confirmed last month that its test kits can detect the Omicron variant that is currently running rampant across the globe, making it all the more crucial to have its products commercially available for the masses. Earlier in the month, Cue Health also announced that it has received authorization from the Health Sciences Authority of Singapore for its test kits as well. All things considered, is HLTH stock a top health care stock to buy today?
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Cassava Sciences Inc.
Another name to note in the health care space today would be Cassava Sciences. In brief, the company specializes in developing treatments for chronic, neurodegenerative illnesses. Notably, Cassava employs a combination of cutting-edge tech and neurobiological insights to develop novel treatments for Alzheimer’s disease. Among its core drug candidates is simufilam. By and large, the company’s work in the field of Alzheimer’s research has and continues to turn heads in the stock market.
Evidently, SAVA stock currently trades at $43.81 as of 2:46 p.m. ET. This is after gaining by over 550% year-to-date. Despite its current momentum, Cassava does not seem to be slowing down anytime soon on the operational front. Just last week, the company launched a new clinical website, www.Rethink-ALZ.com. Through this website, Cassava aims to increase the visibility of its Phase 3 studies of Oral Simufilam in treating Alzheimer’s.
According to James Kupiec, Chief Clinical Development Officer at Cassava, the website serves to “enhance patient experience and enrollment” for both its ongoing Phase 3 studies on the drug. It accomplishes this via a user-friendly interface that directs willing participants to their nearest clinical investigational site. As it stands, Cassava’s Phase 3 efficacy studies are now active in over 25 clinical sites across the U.S. All in all, would you consider SAVA stock a top buy in your books now?
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