Top Biotech Stocks To Buy Right Now? 3 For Your Watchlist

18, 2021

6 min read

This story originally appeared on StockMarket

3 Top Biotech Stocks To Watch In The Stock Market Today

Biotech stocks remain on many investors’ radar and for good reasons. Biotech companies are usually more insulated from global events such as the ongoing COVID-19 pandemic and economic uncertainty. Simply put, top biotech stocks have been generally resilient during such uncertain times. That’s because, during good and bad times, pharmaceutical and biotech companies are on a constant hunt for drugs to cure new diseases. 

As the industry pushes out new drugs and treatments, investors closely follow their clinical trials, development, and regulatory approvals. Some investors love the space because of its massive movement in stock prices. For the uninitiated, clinical data releases and regulatory approval decisions are far more important for gauging a biotech firm’s developments than quarterly reports. Apart from this, acquisitions by larger players in the industry or new stakes from investment firms are also signs that investors keep an eye on. 

What makes biotechnology so exciting is that it can flourish off an individual product. A single drug has the potential to change the valuation of a company overnight. It’s never easy to locate the best biotech stocks that could skyrocket overnight. But with proper research and due diligence, investing in biotech stocks could be extremely rewarding. Here’s a look at 3 biotech stocks that have been generating a lot of interest in the stock market so far this week.

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Top Biotech Stocks To Add To Your Watchlist

  1. Apellis Pharmaceuticals (NASDAQ: APLS)
  2. ImmunityBio Inc. (NASDAQ: IBRX)
  3. Biogen Inc. (NASDAQ: BIIB)

Apellis Pharmaceuticals

Apellis Pharmaceuticals, Inc. is a global biopharmaceutical company and is a trending biotech stock to watch in the stock market as of late. This came after the company’s EMPAVELI™ (pegcetacoplan) received an approval from the U.S. Food and Drug Administration (FDA) for the treatment of adults with paroxysmal nocturnal hemoglobinuria (PNH). For the unfamiliar, PNH is a rare blood disease that causes red blood cells to break apart because the surface of a person’s blood cells is missing a protein that protects them from the body’s immune system.

top biotech stocks (APLS stock)

We are pleased to hear of the FDA’s decision to approve EMPAVELI, which is an important milestone for patients,” said Janice Frey-Angel, chief executive officer and executive director, Aplastic Anemia and MDS International Foundation (AAMDSIF). “Many PNH patients are seeking choices in their treatment, so the approval brings new promise for the PNH community.

The approved product is the company’s first and only targeted C3 therapy for the treatment of adults with PNH. If anything, this would represent a significant haul for the pre-revenue company. Considering that the company just received a green light for its first product, APLS stock investors must be overwhelmed with this news. Biotech stock investors have been comparing APLS stock to Alexion Pharmaceuticals (NASDAQ: ALXN) as the latter has been the only company offering a treatment for PNH. But now that we have a new player in the market, investors are excited to see how much market share Apellis can snap. Now that the company has an approved product, could now be the time to load up on APLS stock?

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ImmunityBio is another health care company on investors’ radars this week. In summary, ImmunityBio develops next-generation immunotherapies for treating cancer and infectious diseases such as COVID-19. Seeing as both of its key end markets remain highly relevant today, investors could see IBRX stock as a viable biotech play now. IBRX stock received a boost as we started the week, rising over 9% on Monday. This came after investors responded positively to the company’s FDA authorization to conduct a Phase 1 study to evaluate the safety and preliminary efficacy of its m-ceNK platform combined with its IL-15 superagonist Anktiva (N-803) in subjects with locally advanced or metastatic solid tumors. 

best biotech stocks (IBRX stock)

Regarding its COVID-19 research, the company is currently working on a T-cell-based vaccine. In fact, the company received FDA authorization to expand its Phase 1 trials. It is currently working with the South African government on a distribution plan for the drug. By extension, the company is now studying the viability of a vaccine booster that can be taken orally. With this expansion, ImmunityBio added more participants to its current study as well. 

The novel combination of an oral boost with an initial injected dose would set ImmunityBio apart from the competition. Given the prevalence of newer COVID-19 strains, many next-generation vaccines would include a booster dose. In this case, ImmunityBio’s orally administered booster would be more efficient logistically and in terms of administration. To this end, would you consider IBRX stock a buy?

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Last but not least, we will be looking at biotech giant Biogen. In particular, the company specializes in the discovery, development, and delivery of therapies for neurological diseases. The company is one of the world’s earliest biotech companies. Its leading portfolio consists of medicines to treat multiple sclerosis and the first approved treatment for spinal muscular atrophy. In terms of its developmental pipeline, Biogen’s most notable treatment now would be aducanumab, an Alzheimer’s disease therapy candidate. 

top health care stocks (BIIB stock)

It’s also worth mentioning that an investment in Biogen is quite risky at the moment. The FDA is scheduled to make its decision on aducanumab by June 7, 2021. If Biogen doesn’t get the green light from the FDA, the company’s prospects may be dismal. That’s because the company is banking on this drug to be the cash cow for the company in the foreseeable future. But investors are not alone in this risky endeavor, Berkshire Hathaway (NYSE: BRK.A) is also an investor in Biogen. Buffet and his investment team are not famous for investing in a risky sector like biotech. You could say that this is the riskiest decision in years for the Oracle of Omaha. But whether this bet will pay off is another question to answer. 

Meanwhile, Biogen is also working on another Alzheimer’s treatment known as gosuranemab. Although it is only in Phase 2 testing, Mizuho Securities analyst Salim Syed believes BIIB stock could soar on positive top-line results. It remains to be seen whether either of these factors will come into play this year. And even if it does, no one can be sure if it is enough to return Biogen to its glory days. With all that being said, an investment in BIIB stock is certainly not for the faint-hearted. But if you are bullish on the prospects and are willing to stomach the risk, you might have already made up your mind on BIIB stock.

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