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June
16, 2021

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Are These The Best Health Stocks To Buy Right Now?

As retailers digest news of rising inflation and the latest in meme stocks, health stocks remain a viable game. For one, the healthcare industry remains one of, if not, one of the most important economic sectors on the stock market today. From everyday care to groundbreaking new treatments, there is no shortage of innovation in this area.

As most know, numerous countries around the world continue to fight the pandemic. While countries like the US support global vaccine distribution efforts, we may not be out of the woods yet. According to the World Health Organization (WHO), the coronavirus pandemic is overtaking the global distribution of vaccines. Earlier this week, WHO Director-General Tedros Ghebreyesus said, "This means that the risks for the unprotected, who make up most of the world's population, have increased." Therefore, maintaining a healthy immune system is more important than ever. especially when new coronavirus variants emerge. This is where the leading healthcare companies come into play.

For example, we could look at top players like CVS Health (NYSE: CVS) and UnitedHealth Group (NYSE: UNH). In their most recent quarterly financial reports, both companies had quarterly sales of over $ 68 billion. Emerging biotech names continue to make headlines elsewhere as well. Just yesterday, Novavax (NASDAQ: NVAX) announced that its vaccine candidate is safe with an efficacy rate of 90.4%. All in all, I can understand when investors are looking for the best healthcare stocks to invest in. If you're one of them, here are five names that are trending in the stock market now.

Top Healthcare Stocks To Watch For Now

Rapt Therapeutics Inc.

Rapt Therapeutics is a healthcare company focused on the discovery, development, and commercialization of oral small molecule therapies. In short, the company is committed to defeating cancer and inflammatory diseases with its own discovery and development machine. Impressively, in the first four years since its inception, Rapt has discovered and developed two unique drug candidates, FLX475 and RPT193. RAPT stock is currently trading at $ 38.34 at 10:25 PM ET and has more than doubled in the last week. Investors appear to be reacting to news the company released on Monday.

Submerged, Rapt reported positive topline results from its Phase 1b study for drug candidate RPT193. This monotherapy will treat atopic dermatitis (AD). Improvements were demonstrated for all important exploratory efficacy endpoints. The treatment was also well tolerated and there were no serious side effects. In light of this positive news, the company plans to move its RPT193 candidate into Phase 2b clinical trials for AD. For these reasons, are you considering adding RAPT stocks to your watchlist of top healthcare stocks?

Source: TD Ameritrade TOS

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Clover Health Investments Corp.

Clover Health is a Preferred Provider Organization (PPO) and Health Maintenance Organization (HMO) with a Medicare contract. Specifically, it is a next-generation Medicare Advantage insurer using the company's flagship software platform, the Clover Assistant. By providing data-driven and personalized insights to physicians at the point of care, Clover Health strives to improve clinical decision making and clinical outcomes. The CLOV share has risen by over 80% since the beginning of June.

Last week, the company announced plans to scale its primary home care program, Clover Home Care, through the U.S. Centers for Medicare and Medicaid Services (CMS) new direct contract model. This would make the Medicare program more financially sustainable for taxpayers while improving health outcomes for beneficiaries. This could ultimately expand its customer base and help position Clover Health for long-term growth. All in all, is CLOV stock worth a look?

Top stocks in healthcare (CLOV stock)Source: TD Ameritrade TOS

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Eli Lilly and Company

Eli Lilly and Company (LLY) is an Indiana-based pharmaceutical company and a global leader in healthcare. Founded more than a century ago, the company is dedicated to developing high quality medicines that meet real needs. One of the company's most notable achievements is being the first to mass-produce the polio vaccine and insulin.

Today the company announced that it will conduct a head-to-head study comparing once-monthly injectable Emgality to Nurtec ODT, an orally disintegrating tablet that migraineurs take every other day. The study will help doctors and patients make more informed treatment decisions as they move towards more migraine-free days. In light of this news, will you be watching the LLY share?

best health shares (LLY share)Source: TD Ameritrade TOS

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Quidel Corporation

Quidel is a leading manufacturer of diagnostic health products. It offers a wide range of rapid test technologies that improve the quality of health care worldwide. Last week the company received an amended Emergency Authorization (EUA) for its new Sofia Q rapid antigen test.

Sofia Q is the newest addition to Quidel's best-selling Sofia instrument portfolio. In essence, the rapid antigen test device uses Sofia fluorescence technology to provide an accurate and automated result within 15 minutes.

Douglas Bryant, President and Chief Executive Officer of Quidel Corporation, said, “We designed Sofia Q to be very affordable and amenable to widespread adoption in the growing global point of care and telemedicine market. We believe Sofia Q will be ideal in the future for serving consumers at home, in schools and at work. ”With that said, would you consider adding QDEL stocks to your portfolio?

Top Healthcare Stocks To Buy Right Now (QDEL Share)Source: TD Ameritrade TOS

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Ocugen Inc.

Lastly, let's look at the biopharmaceutical company Ocugen Inc. The company initially focuses primarily on the development and commercialization of gene therapies for blindness diseases. This year, OCGN stock remains a breakout player in the industry thanks to Ocugen's involvement in co-developing a coronavirus vaccine. The vaccine in question is COVAXIN, which is the result of a collaboration between Bharat Biotech and the Indian Council of Medical Research.

In short, COVAXIN's current track record is admirable with an effectiveness rate of 78%. With Ocugen looking to bring COVAXIN to the US, OCGN shares would now be on investors' radar. OCGN stock gained over 15% during Tuesday's trading session. This would probably be due to the fact that Ocugen entered into a production partnership here in the USA. In the future, Jubilant HollisterStier, a leading contract manufacturer of sterile injectables, will manufacture COVAXIN for the US and Canadian markets. Would this exciting development make OCGN stock a top buy for you now?

Stocks To Watch For Today (OCGN Stock)Source: TD Ameritrade TOS

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