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This story originally appeared on StockMarket
Are These the Best Healthcare Stocks You Can Buy Right Now?
Healthcare stocks are one of the most important sectors in the stock market right now, if not the largest. Coupled with the devastation caused by the pandemic, the focus on healthcare is increasing. These include companies that sell medical supplies, provide medical services, or even provide real estate for medical organizations. These can be vaccine companies like Moderna Inc (NASDAQ: MRNA) or even gene therapy company Celcuity Inc (NASDAQ: CELC) that could change the world significantly.
Take, for example, Moderna, one of the pioneers in making COVID-19 vaccines. This has brought tremendous profits to the company since the pandemic began. As a result, the company's share price tripled over the past year. In addition, the company recently highlighted the publication of antibody persistence data within 6 months of the second dose of the Moderna COVID-19 vaccine.
To date, COVID-19 has killed around 3 million people worldwide. However, there are other diseases that continue to plague humanity, some of which are temporarily under the radar. Other healthcare companies are working on treatments for a variety of diseases, and investors are aware of this. With that in mind, let's take a look at these top four healthcare stocks on the stock market.
Healthcare stocks to buy (or sell) now
Beam Therapeutics Inc.
First off, we have Beam Therapeutics. It is a biotech company focused on precise genetic drugs based on its base editing technology. Basic editors allow a single letter of a gene to be precisely rewritten. This could potentially create lifelong cures for serious illness. For example, the most advanced preclinical candidate, BEAM-101, targets the treatment of rare blood diseases such as beta thalassemia and sickle cell disease. As some of you may know, the company does not yet have clinical testing programs. The aforementioned candidate is hoping to clear the U.S. Food and Drug Administration (FDA) for early-stage clinical testing later this year. With such exciting technology, could Beam possibly make the next big breakthrough in genetic medicine?
Despite a lack of clinical testing programs, the company's share price rose more than 300% over the past year. In February, Beam acquired GuideTx, a developer of non-viral drug delivery vehicles for genetic drugs. GuideTx's technology would potentially enable much faster screening times by screening hundreds of nanoparticles in a single experiment.
As of December 31, 2020, the company had liquidity positions of $ 299.7 million. This was further amplified in January 2021 when the company raised $ 260 million in gross proceeds from a private placement. Beam's strong cash position would likely be sufficient to fund the company's clinical development over the next several years. In March 2021, Beam named Amy Simon chief medical officer. Dr. Simon brought more than 20 years of clinical experience to Beam. With all these developments, would you consider buying BEAM stock?
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Editas Medicine Inc.
Next we have Editas Medicine. It is a leading genome editing company focused on translating the potential of CRISPR gene editing to develop a robust pipeline of drugs. The company is currently focused on three major therapeutic areas: eye diseases, oncology and blood diseases.
The share is up almost 50% year over year. EDIT stock hit an all-time high of $ 99.95 earlier this year. However, the stock has fallen more than 60% since then. This could be due to skepticism about the company's initial CRISPR gene editing product EDIT-101 results. Some may know that this is the first time an in vivo gene-editing drug has been administered to humans. Given the novelty of the product, it is not surprising that some observers are not interested in it.
Financially, the company's revenue quadrupled for the fiscal year ended December 31, 2021. In addition, net loss decreased 13% to $ 116 million. In February 2021, Editas announced the appointment of James C. Mullen as CEO. His wealth of industry experience, including his experience as CEO of biotech giant Biogen (NASDAQ: BIIB), could bode well for Editas. Given all of these factors, would you be ready to take a chance on EDIT stocks?
Intuitive Surgical, Inc.
Intuitive Surgical is a company that designs, manufactures, and markets robotic products to improve patient clinical outcomes. This is achieved through minimally invasive operations, especially with the da Vinci surgical and ion system. This would make surgeries more effective, less invasive, and easier for surgeons and patients alike.
The company's share has increased by more than 50% in the past year. The positive sentiment regarding the company's shares could be due to its dominance in the robotic operations space. In detail, the company had installed almost 6,000 of its surgical systems worldwide by the end of 2020. Additionally, it is noteworthy that none of its competitors are close to achieving what Intuitive Surgical has achieved to date.
Despite the impact of the pandemic, Intuitive Surgical was able to generate profits on fourth quarter 2020 results. Revenue for the fourth quarter of 2020 was $ 1.33 billion, up 4% year over year. Net income for the quarter was $ 365 million, an increase of 2% over the previous year. It should be noted that the company actually shipped fewer systems during the quarter. However, the growth in da Vinci process volume more than made up for it. The potential for robotic surgical devices remains enormous, and Intuitive Surgical is at the forefront of this innovative wave. With that in mind, would you invest in ISRG shares?
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Veeva Systems Inc.
Last on the list, we have Veeva Systems. The company provides cloud solutions for the global life science industry. With its solution, companies can take advantage of a modern cloud-based architecture and mobile applications for their business functions. In short, it helps companies get products to market faster and more efficiently. As a result, the company's share price rose nearly 50% over the past year.
In a world where technology and healthcare are trending, the company's performance is no surprise. On April 15, the company and the leading clinical research organization Parexel announced a strategic collaboration. In this collaboration, Parexel is standardizing the Veeva suite of clinical business applications to optimize operations. In addition, Parexel will have early access and input into Veeva's clinical products.
"Together, we can accelerate the way our customers deliver new vaccines, diagnostics, devices and therapies to patients in need." said Peter Gassner, founder and CEO of Veeva. In a world where technology plays a bigger role in healthcare, Veeva has a great opportunity. Given its long growth, would you consider adding VEEV stocks to your portfolio?