Here Are 5 Biotech Stocks To Check Out In The Stock Market Today
As we move into the rest of 2022, it seems that biotech stocks could continue to be a viable play in the stock market. This can be attributed to the ongoing coronavirus concerns fueling the booming industry. Now, as the Omicron variant sweeps the globe, it shouldn’t come as a surprise as many investors continue to look out for the best biotech stocks to buy. Despite daily new cases seeming to be slowing down in the U.S, the persistent uncertainty has weighed on investors’ expectations regarding the overall market. Also, with rising interest rates hampering tech stocks, the biotech segment does seem appealing these days, given its non-cyclical nature.
All in all, some of the prominent names in the industry today would still center around vaccine makers. Just last week, it was found that a Johnson & Johnson (NYSE: JNJ) booster shot is 85% effective in protecting against hospitalization by the Omicron variant. In other vaccine-related news, Moderna (NASDAQ: MRNA) CEO Stephane Bancel recently provided an update on the company’s work with the Omicron variant. The CEO notes that clinical data for Moderna’s vaccine candidate could arrive by March. While these vaccine stocks remain topics of discussion, other players in the biotech space could be worth mentioning as well. In light of all these, do you have this list of top biotech stocks to watch in the stock market now?
Top Biotech Stocks To Watch In January 2022
- Zogenix Inc. (NASDAQ: ZGNX)
- Valneva SE (NASDAQ: VALN)
- Pfizer Inc. (NYSE: PFE)
- Novavax Inc. (NASDAQ: NVAX)
- AbbVie Inc. (NYSE: ABBV)
Zogenix
Shares of small-cap biotech stock Zogenix have been moving higher this week. This was thanks to the breaking news on Wednesday regarding an acquisition. In detail, the company’s shares are responding positively to a buyout agreement from Belgian pharmaceutical company UCB. Under the agreement, UCB will be buying all outstanding Zogenix shares for $26.00 per share. Besides that, there is also a milestone-based potential cash payment of $2.00 per share.
For those who come across the company for the first time, it is a biopharmaceutical company that develops therapies to improve the lives of patients with rare diseases. The company’s first rare disease therapy, FINTEPLA (fenfluramine) oral solution, has been approved by the U.S. Food and Drug Administration (FDA) and European Medicines Agency (EMA).
Besides the two healthcare authorities, fenfluramine is also under regulatory review in Japan. Fenfluramine treats seizures associated with Dravet syndrome, a rare, severe lifelong epilepsy. Given all this and the recent buyout deal, will you be watching ZGNX stock?
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Valneva
Following that, we have Valneva. In brief, it is a French biotech that develops prophylactic vaccines for infectious diseases. As a matter of fact, it currently has several vaccines in development, including vaccines against Lyme disease, coronavirus, and chikungunya. Valneva’s portfolio also includes two commercial vaccines for travelers.
On Wednesday, the company said that preliminary studies showed that three doses of its inactivated COVID-19 vaccine candidate VLA2001 neutralized the Omicron variant of the disease. All of the serum samples tested presented neutralizing antibodies against the ancestral virus and Delta variant, and 87% against the Omicron variant. The company expects to receive potential approvals for its vaccine within the first three months of this year.
Besides that, it will also be providing data to the EMA as well as regulators in the UK and Bahrain. If Europe approves the shot, Valneva expects to start delivering doses there in April. With this potentially groundbreaking development in mind, should you buy VALN stock?
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Pfizer
Without a doubt, Pfizer is one of the most notable names in the COVID-19 vaccine arena. The biopharmaceutical develops and manufactures many health care products that include innovative medicines and vaccines.
The company is also behind many blockbuster drugs, drugs that have brought in a revenue of over $1 billion. Most notably, its COVID-19 vaccine was developed together with BioNTech (NASDAQ: BNTX). Over the past 6 months, Pfizer stock has risen by over 30%.
Yesterday, White House Chief Medical Advisor Dr Anthony Fauci said that the FDA could approve its vaccine for children under 5 years old by next month. He also notes that younger children will likely need three doses, as two shots did not induce an adequate immune response in 2-4-year-olds in Pfizer’s clinical trials. “My hope is that it’s going to be within the next month or so and not much later than that, but I can’t guarantee that,” Fauci said during an interview. With Pfizer continuing to lead the fight against the pandemic, will you be watching PFE stock?
Novavax
Following that, we have Novavax. In short, the company develops vaccines to counter serious infectious diseases. Its recombinant nanoparticles and adjuvant technology continue to be the foundation for ground-breaking innovation that improves global health through safe and effective vaccines.
Novavax announced yesterday that Australia’s Therapeutic Goods Administration (TGA) has finally granted approval for the company’s COVID-19 vaccine for active immunization in individuals 18-years-old and older. In January 2021, the country entered into an advance purchase agreement to order 51 million doses of the vaccine for its population of 26 million.
Moreover, Australia has the option to purchase an additional 10 million doses as well. Supplied under the brand Nuvaxovid, this approval represents the first protein-based COVID-19 vaccine to be used in Australia. Given this piece of news, is NVAX stock one to watch?
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AbbVie
Leading biopharmaceutical company AbbVie focuses on developing treatments across a wide array of therapeutics areas. Among the core areas of AbbVie’s focus are immunology, neuroscience, eye care, oncology, and gastroenterology.
Additionally, the company also offers aesthetics-based treatments via its Allergan Aesthetics portfolio. For a sense of scale, the company raked in a total revenue of $14.34 billion in its latest quarter. ABBV stock has risen by over 15% in price over the past 6 months.
Last week, the FDA approved the company’s Rinvoq (upadacitinib) for the treatment of moderate to severe atopic dermatitis. The treatment is for adults and adolescents 12-years-old and older whose disease did not respond to previous treatment options or when other options are not advised. AbbVie has eyed the drug as a potential successor to its blockbuster drug Humira, which has been the primary driver of revenue for the company. Given this approval and potential cash cow drug, will you be eyeing ABBV stock?
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