What stocks to buy this week? 4 biotech stocks you need to know

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Do you have these top biotech stocks on your watch list?

Depending on your investment appetite, the stock market offers different types of opportunities. Biotech stocks have a reputation as a high-risk, high-reward sector to invest in. It is an industry that includes companies that develop drugs and diagnostic technologies for the treatment of diseases and medical conditions. No matter how the stock market feels, biotech stocks will always be on investors’ radar. For those new to the industry, you might be wondering why.

Well, the reason is quite simple. That’s it main biotech stocks have arguably the highest potential to bring you huge quick profits. After all, the industry often has interesting developments. In fact, a few decades ago, many diseases such as HIV and cancers were considered death sentences. Today, innovation in the biotechnology industry has changed the way these diseases are treated. This gives hope to many patients suffering from these deadly conditions.

For example, Myovant Sciences (NYSE: MYOV) and Accord Healthcare announced an exclusive licensing agreement on Tuesday. This will allow Accord to market relugolix for the treatment of advanced hormone-responsive prostate cancer under the trade name ORGOVYX in several parts of Europe. In addition to that, Praxis Precision (NASDAQ: PRAX) also announced positive top results from Part B of its Phase 2a study evaluating the safety and efficacy of PRAX-944 for the treatment of essential tremor. Overall, the biotech industry has come a long way and will likely continue to grow. With that in mind, here are four of the top biotech stocks to watch in the stock market today.

Biotech stocks to buy [Or Sell] Today

biological haven

biological haven dominated the biotech industry headlines this week. For those unaware, this is a commercial-stage biopharmaceutical company. It has a portfolio of therapies to improve the lives of patients with debilitating neurological and neuropsychiatric diseases. Last week, the company announced its first quarter earnings report and, with it, the announcement of a definitive agreement under which Pfizer (NYSE: PFE) will acquire Biohaven. As a result, BHVN has climbed over 50% over the past week.

Under the terms of the agreement, Pfizer will acquire all remaining outstanding shares of Biohaven for $148.5 per share in cash. It’s safe to say that this acquisition demonstrates Biohaven’s leadership in the migraine treatment market with its NURTEC ODT. The company believes Pfizer will accelerate its mission to bring its migraine medication to even more patients. Additionally, a new company will retain other pipeline products that are not part of the Pfizer deal. This would allow the new company to focus more on its innovative pipeline for neurological and other disorders. That said, should you watch BHVN’s actions?

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Intra-Cellular Therapies

ITCI Stock

Another biotech company that has been making waves recently is Intra-Cellular Therapies. Overall, the company specializes in small molecule drugs that address underserved medical needs in neuropsychiatric and neurological disorders. The Company’s CAPLYTA is a prescription drug for the treatment of schizophrenia in adults. In fact, two new dosages of the drug were recently approved by the US Food and Drug Administration (FDA) for the treatment of moderate to severe liver failure. Patients can expect the new dosage to be available in pharmacies by mid-2022.

Additionally, the company just announced its first quarter financial update last week. While financial numbers may not be the most accurate reflection of a biotech company’s success, Intra-Cellular has still made significant progress on these fronts. Its total revenue for the quarter was $35 million, more than double that of the same period last year. This was largely due to sales of CAPLYTA, for which the drug contributed $34.8 million, up 36% from the prior quarter and 123% year-over-year. Overall, the robust adoption of the company’s main product is indeed encouraging. Given these factors, could ITCI stock be one of the top biotech stocks to buy right now?

seagen

stock sgen

seagen is a biotechnology company that develops and commercializes targeted therapies to treat cancer. Some of its notable programs include ADCETRIS and PADCEV which are based on its Antibody-Drug Conjugate (ADC) technology, which uses the targeting ability of monoclonal antibodies to deliver cell-killing agents directly to cancer cells. For the most part, oncology is still considered an unmet medical need. Therefore, investors watching the sector may have SGEN stocks on their radars.

Late last month, Seagen announced its first quarter financial statements and provided significant updates on its various oncology pipelines. Its net product sales increased to $383 million, representing a 27% increase over the prior year quarter. This reflects the overall growth of its approved product portfolio. Additionally, the European Commission also approved PADCEV for previously treated metastatic urothelial cancer last month. All in all, there are plenty of reasons to be optimistic around Seagen right now. So, would you consider adding SGEN shares to your portfolio?

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FibroGen

fgen stock

Last but not least, let’s look FibroGen. In detail, the company discovers, develops and markets therapies for serious unmet medical needs. It is currently developing Roxadustat, an oral small molecule inhibitor of hypoxia-inducible factor prolyl hydroxylases, which has completed Phase III clinical development for the treatment of anemia in chronic kidney disease. In addition, the company also recently announced the completion of patient enrollment for ZEPHYRUS-1, the first of two Phase 3 clinical studies of pamrevlumab in patients with idiopathic pulmonary fibrosis (IPF).

For the uninitiated, Pamrevlumab is an antibody that inhibits the activity of connective tissue growth factors. They are commonly found in fibrotic and proliferative disorders where persistent scarring can lead to organ failure. Therefore, this latest development brings the company closer to proof that pamrevlumab may provide clinical benefits for the treatment of IPF and other fibrotic disorders. Not to mention that FibroGen released its first quarter financial statements on Tuesday. The company was able to increase revenue to $60.8 million, up 58% year over year. All things considered, do you see better days for FGEN stocks?

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Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | [email protected]



Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | [email protected]


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