Biotech companies play a major role in advancing longevity and medicine, even more so as we recover from the coronavirus pandemic. It is this importance that made biotech stocks a major hit among investors, as they pay attention to the latest drug or vaccine available among the general population. Take Moderna Inc (NASDAQ: MRNA) for example, investors who bought MRNA stock in January 2020 were able to reap gains of over 600%. That said, could now be a good time to pay more attention in the biotechnology space?
When looking for the top biotech stocks to buy right now, it’s worth mentioning that you are not just investing in the space for profit. but you are also investing in the advancement of modern medicine. Companies like Sangamo Therapeutics (NASDAQ: SGMO) utilizing gene cell therapy to treat hemophilia or Foghorn Therapeutics (NASDAQ: FHTX) developing medicine for genetic diseases are crucial.
The boom in top biotech stocks is not confined just to those focusing on COVID-19 vaccines. Investors are also looking out for medical breakthroughs that would take stock prices to new heights. Hookipa Pharma’s (NASDAQ: HOOK) recent announcement of a collaboration with Gilead Sciences (NASDAQ: GILD) in researching a cure for HIV has gotten investors ecstatic. Given the potential of biotech stocks overall, will investors put up a list of best biotech stocks to buy in the stock market today?Top Biotech Stocks To Buy [Or Sell] Right Now
- Neurocrine Biosciences, Inc. (NASDAQ: NBIX)
- Rubius Therapeutics Inc. (NASDAQ: RUBY)
- ALX Oncology Holdings Inc. (NASDAQ: ALXO)
- Clovis Oncology Inc. (NASDAQ: CLVS)
First on our list is Neurocrine Biosciences. Founded in 1992, the company develops treatments for neurological and endocrine-related illnesses. The company is known for its medicine Ingrezza used to treat adults with tardive dyskinesia as well as Opicapone, an inhibitor for Parkinson’s diseases. Other than those, the company is also developing treatments for Tourette syndrome, endometriosis, and other diseases.
Neurocrine saw its stock price increase by over 11% during Thursday’s trading. This came after S&P Dow Jones Indices announced that NBIX stock is joining the S&P Midcap 400. With the inclusion in a major index, NBIX stock would likely attract the attention of more investors going forward.
Neurocrine’s financial performance in 2020 also marked a record high. Total revenues for the year were $1.05 billion, a 33% increase when compared to 2019 numbers. Its sale of Ingrezza alone topped $993 million, representing an increase of 32% compared to the year before. More importantly, the company’s recent trials in using Luvadaxistat to treat negative symptoms of schizophrenia have shown promising results. Given Neurocine’s solid performance, will you be adding NBIX stock to your watchlist?Rubius Therapeutics
Rubius Therapeutics is another worthy mention on the list. With over 20 years of experience, the company utilizes red blood cells, repurposing them into cellular medicines. The company’s specialty has been crucial in oncology and treating autoimmune diseases. Moreover, the company has been developing trial treatments for cancer and leukemia.
Investors were buzzing about RUBY stocks, as its share surged over 26% on Thursday. Earlier this week, major shareholder Flagship Ventures Fund purchased 210,000 units of RUBY stocks with an estimated value of $6.09 million. Just this month alone, RUBY stock skyrocketed over 220%, closing at an all-time high price of $31.78 on Thursday.
The company’s endeavor in experimental cancer treatments has been showing promising results. The company recently revealed treatments with an experimental drug test of RTX-240 which created partial responses in two patients, one with anal cancer which metastasized, and another with an eye melanoma. CEO Pablo Cagnoni believes that the results provide clinical validation for the company’s cellular medicine technology. With Rubius looking to create a breakthrough in cancer treatment, is it enough to induce buyers to buy RUBY stock?
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Another oncology biotech company featured on this list is ALX Oncology Holdings. Instead of using cellular technology, ALX Oncology focused on treatment that is designed to block inhibitor signals in cancer cells, which blocks cancer cell’s defense against the immune system. The company believes that the application of its therapeutics combined with other treatments will become a positive measure in fighting cancer.
Last week, the company provided updates for its lead product candidate ALX148. The company is looking at an exciting year ahead. In the first half of 2021, ALX is looking to initiate Phase 2 studies in patients with head and neck squamous cell carcinoma. It also plans to begin a Phase 1b clinical trial in patients with breast cancer and other solid tumors.
To further enhance the viability of its cancer treatment, ALX Oncology recently announced a collaboration with Tallac Therapeutics Inc. Both companies will combine their specialties to create anti-cancer therapeutics that deliver targeted immune activation. Despite these exciting developments, ALXO stock has fallen by over 20% this month. Will the weakness in ALXO stock pique investors’ interest to buy while prices are low?Clovis Oncology Inc
The final entry on our list is Clovis Oncology. The company specializes in the manufacturing and marketing of cancer treatment products. To be more elaborate in its approach, the company develops diagnostic tools which can target specific cancer. Clovis’s collaboration with other partners also created flexibility to choose a specific approach, allowing precision medicine for treatments.
Last week, Clovis reported positive updates in its Phase 3 ARIEL4 study on ovarian cancer treatments. Data suggest that the company’s medicine Rubraca (rucaparib) significantly improves progression-free survival in comparison to conventional chemotherapy treatment among patients with advanced and relapsed ovarian cancer. CEO Patrick J. Mahaffy said, “The ARIEL4 data add to the growing scientific understanding about the clinical utilization of Rubraca compared to chemotherapy, including platinum-based chemotherapy, for women diagnosed with BRCA mutation-positive advanced ovarian cancer.“
In February 2021, the company reported its 2020 revenue, which came in at $164.5 million, an increase of 15% year over year. Loss per share narrowed to $4.38 in 2020, from $7.43 a year ago. With the positive updates in clinical trials, could Clovis be looking at higher revenues and profitability in the coming year? If so, does this make CLVS stock worth noting among investors?