Do You Have These Biotech Stocks On Your March 2022 Watchlist?
Biotech stocks are often seen as a segment of the market that has the potential to thrive regardless of the broader stock market sentiment. Essentially, biotech companies are high-risk, high-reward investments. This is because each stage of progress can be a catalyst for the stocks. A positive outcome can change the fortune of the company. But, a negative one could also be detrimental to its company stock.
For instance, NeuroSense Therapeutics (NASDAQ: NRSN) announced that it has acquired clearance from the U.S. Food and Drug Administration (FDA) to initiate a pharmacokinetic study of its PrimeC drug candidate in healthy adults. The formulation targets several key mechanisms of amyotrophic lateral sclerosis (ALS). In light of this, NRSN stock surged by more than 300% over the past week.
Elsewhere, Moderna (NASDAQ: MRNA) has also shown signs of revitalization after it requested the U.S. FDA to authorize its coronavirus vaccine booster for all adults. If the company receives such authorization, it would likely be a boost for MRNA stock. With all said and done, investors will have to determine if the biotech sector fits their appetite. If so, then here are some of the top biotech stocks in the stock market today worth paying attention to.
Biotech Stocks To Buy [Or Sell] This Week
AstraZeneca is a patient-focused biopharmaceutical company. In detail, the company specializes in prescription medicines for the treatment of diseases. As of now, it primarily focuses on Oncology, Cardiovascular, Renal & Metabolism, and Respiratory & Immunology. Similar to other vaccine companies, AstraZeneca has played a vital role in our efforts to combat the global pandemic through its coronavirus vaccines. Impressively, AZN stock has risen more than 20% over the past year and is still trending upwards.
Last week, AstraZeneca and Merck & Co (NYSE: MRK) announced additional positive results from the OlympiA Phase III trial. For those unaware, the trial aims to determine the effectiveness of adjuvant treatment of patients with germline BRCA-mutated, human epidermal growth factor receptor 2 (HER2)-negative high-risk early breast cancers. Specifically, for patients who have been treated with neoadjuvant or adjuvant chemotherapy. To the company’s delight, LYNPARZA showed a statistically significant improvement in overall survival versus the use of a placebo. To say the least, this is a great development for the prospect of the treatment of breast cancer as health care continues to evolve.
On top of that, there are recent data that suggests EVUSHELD™ can retain potent neutralizing activity against the highly transmissible Omicron variant. The Washington University School of Medicine conducted a study using a transgenic mouse model to evaluate the EVUSHELD in pre-exposure prophylaxis of coronavirus. It appears that the drug is effective at protecting against infection in the lungs across all Omicron subvariants tested. Should these findings be accurate, this would be a huge development in the right direction as we navigate our way through the coronavirus pandemic. With that in mind, would AZN stock be a top biotech stock to watch now?
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Another top biotech company that has been making waves in the stock market today is Regeneron. Essentially, the company discovers and commercializes medicines for serious diseases. Some of its marketed products include EYLEA (aflibercept), Dupixent (dupilumab), REGEN-COV, and Libtayo (cemiplimab), to list a few. Riding on strong bullish momentum, REGN stock has climbed by about 43% over the past year. This is by no means a small feat given the uncertainties in the stock market lately.
Well, this momentum is likely driven by the array of positive developments from the company over the past month. In February, Regeneron and Sanofi (NASDAQ: SNY) announced positive results from a second Phase 3 trial concerning Dupixent. It showed that Dupixent 300mg weekly can significantly improve the signs and symptoms of eosinophilic esophagitis at 24 weeks as compared to placebo for patients who are 12 years and older. Many would agree that this is a much-needed development as there are currently no FDA-approved treatments that address the underlying drivers of this disease.
Furthermore, there is also another positive interim data from an ongoing Phase 1 clinical study done by the company and Intellia Therapeutics (NASDAQ: NTLA). The data suggests that their lead in vivo genome editing candidate, NTLA-2001, has a dose-dependent reduction in serum transthyretin effect and could achieve the maximum reduction by day 28. The NTLA-2001 is a drug that is being developed as a single-dose treatment for transthyretin amyloidosis. All things considered, could there be more room to grow for REGN stock?
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Last but not least, we have a biotech company that focuses on aesthetic offerings, Revance. The company’s core neuromodulator product right now is the DaxibotulinumtoxinA for Injection. It combines a proprietary stabilizing peptide recipient with a purified botulinum toxin that is void of human or animal-based components. Now, RVNC stock appears to be picking up steam again after it plunged last year in response to the U.S. FDA rejection of DaxibotulinumtoxinA as a frown-line treatment. RVNC stock has risen more than 50% over the past month.
Revance started the month by concluding its fourth-quarter and full-year 2021 financial report. Its revenue for the quarter was $26 million, representing an increase of a whopping 134% year-over-year. On the other hand, its full-year revenue soared to $77.8 million as compared to a mere $15.3 million last year. The increase is largely due to increased sales of the RHA Collection of dermal fillers. Additionally, the company now has over 3,000 active accounts. Revance believes that it will be able to provide its customers with a compelling value proposition with room to grow.
Not to mention, the company recently decided to resubmit its Biologics License Application to the U.S. FDA for DaxibotulinumtoxinA for Injection for the treatment of glabellar lines. Revance also closed a $300 million note purchase agreement with funds managed by Athyrium Capital Management to strengthen its financial position ahead of the potential FDA approval. Thus, could the company be a formidable player in the thriving aesthetics market soon? If you believe so, would you consider adding RVNC stock to your watchlist?
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.