June 10, 2021
6 minutes to read
This story originally appeared on StockMarket
3 biotech stocks for your June watchlist
When looking for the most active stocks today, investors would probably think of memes stocks. However, biotech stocks can also come to mind in the stock market today. As most seasoned investors know, the biotech industry is full of exciting news for traders to digest. Namely, the biotech industry is full of companies that conduct research on life-enhancing treatments. Considering the vast array of diseases to be cured today, investors would now have the choice of many companies.
For example, a very important example would be COVID-19. After the outbreak of the pandemic, countless biotechnology companies mobilized to develop a vaccine. Now, companies such as Moderna Inc. (NASDAQ: MRNA) and Novavax Inc. (NASDAQ: NVAX) are in the spotlight with their vaccines. In Moderna’s case, the company’s vaccine continues to make its way around the world. As recently as yesterday, news broke that the US government would be in negotiations with Moderna to secure additional doses of the vaccine for other countries. Elsewhere, investors also appear interested in Novavax’s next vaccine candidate. Analysts at B. Riley Securities and Jefferies gave the company’s shares a buy rating, citing that the company was on the verge of obtaining regulatory approval. As it stands, MRNA and NVAX shares have more than tripled in value over the past year.
At the same time, even the biggest names in biotechnology are not sitting idly by. Take Biogen (NASDAQ: BIIB) for example, which just received FDA approval this week for its industry-first Alzheimer’s treatment. As a result, BIIB stock is currently looking at gains of over 40% this week. With all of that in mind, here are three biotech stocks currently trending on the stock market.
Best Biotech Stocks To Buy [Or Sell] Now
BioNTech, the other half of Pfizer’s pioneering vaccine (NYSE: PFE) is launching us today. For the uninitiated, BioNTech is a German biotechnology company that develops and manufactures active immunotherapies. In addition to the coronavirus vaccine, the company’s development pipeline also has a strong focus on a wide range of cancers. Through this comprehensive oncology pipeline, BioNTech is currently working with healthcare players such as Regeneron Pharmaceuticals (NASDAQ: REGN) and Sanofi (NASDAQ: SNY). Now BNTX stock is currently looking at gains of over 400% over the past year. Could there still be room to run this year?
Well, on the one hand, the company’s work in the area of coronavirus vaccines is far from over. At the end of last month, BioNTech’s vaccine candidate received its first authorization in the European Union for use in adolescents. Considering the age group’s arguably underdeveloped immune system, this is a remarkable development for BioNTech. According to the company, the vaccine can now be applied to people between the ages of 12 and 15. Not only would this serve to accelerate vaccination efforts globally, but it would also provide BioNTech with additional market reach.
If that weren’t enough, the company could also receive additional orders from the United States. According to the Washington Post, the Biden administration is seeking to purchase 500 million doses of BioNTech’s vaccine for redistribution in other countries. For now, it is estimated that all doses will likely be distributed by the first half of 2022. Covax, the initiative supported by the World Health Organization (WHO), will be in charge of global distribution. Overall, this is a win-win situation, as BioNTech can bring more vaccines to market while countries in need receive critical assistance. Does that make BNTX stock a top buy for you now?
Inovio Pharma inc.
Another biotechnology company to know now would be Inovio Pharmaceuticals Inc. In short, the company is primarily focused on the discovery, development and commercialization of synthetic DNA products. These products are used to treat infectious diseases, cancer and sexually transmitted diseases. In addition, Inovio also has a massive roster of notable partners and collaborators from governments and private organizations. These include, but are not limited to, AstraZeneca (NASDAQ: AZN), the Bill & Melinda Gates Foundation, the US Department of Defense, and the National Institutes of Health.
Impressive trades aside, INO stock seems to be catching the attention of investors now. This appears to be the case as the company’s shares have risen more than 45% in the past month. This would be largely due to the company’s work on its supposed DNA vaccine, INO-4802. Since last month, Inovio’s vaccine candidate has produced strong signs of efficacy against several strains of the virus in preclinical studies. Notably, this could potentially make it a “Next Generation Pan-COVID-19 vaccine candidate», According to Inovio.
Apart from that, the company is also working hard on its previous COVID-19 vaccine candidate INO-4800. Earlier today, Inovio announced that it would expand its current partnership with Chinese biotech company Advaccine. The duo will now conduct global Phase 3 trials for INO-4800 in a two-dose schedule. In terms of topics, people aged 18 and over across Latin America and Asia regions will be involved. CEO Dr Joseph Kim cites global vaccination rates below 10% as a key factor in speeding up these tests. Could INO stocks be worth adding to your portfolio because of all of this?
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Connect Biopharma Holdings Ltd
Then we have Connect Biopharma. In some settings, it is a clinical-stage global biopharmaceutical company seeking to treat patients with chronic inflammatory diseases. It does this through the development of therapies derived from T cell research. For an idea of scale, the company has operations in China, the United States and Australia. In addition to this, Connect Biopharma also manages additional clinical development activities in Europe. In short, the company uses small molecules and antibodies to target T cells, which in turn serve to screen and discover potent drug candidates.
On the contrary, the Connect Biopharma portfolio continues to expand significantly and investors appear to be reacting accordingly. Getting to the heart of the matter, the company announced the start of a phase 2 trial for its asthma treatment, CBP-201. Since the announcement early on May 12, CNTB stock has jumped more than 20%. Specifically, the treatment is being evaluated for use in adults with moderate to severe persistent asthma. Approximately 300 patients at 80 clinical sites in the United States, China, European Union, United Kingdom, Ukraine and South Korea.
According to Dr Edward Kerwin, founder of the Clinical Research Institute, Allergy and Asthma Center, this is an important development. He said, “The start of recruitment for the CBP-201 clinical trial offers hope for the pursuit of effective new treatments for severe asthma. Considering the scale and importance of Connect Biopharma’s latest project, we could envision an exciting time for CNTB action. Would you accept?