2 Top Biotech Stocks To Watch After Moderna’s Key Update

Are These Biotech Stocks On Your Watchlist This Month?

It’s earnings season and the markets are likely to see more volatility. The surge in coronavirus cases could mean more attention is on biotech stocks. Some of the top biotech stocks to watch this year had a hand in working to fight the coronavirus. Not sure if you are aware, Covid-19 news seems to have become an even bigger catalyst in many cases. It might have something to do with later stages trials, fast track, and emergency use designations, or simply antibodies were able to neutralize the virus. 

Just this week, Moderna Inc (MRNA Stock Report) has re-emerged as the lead contender again in the race for a coronavirus vaccine. You may have seen it in the news. Moderna is attempting to create a vaccine that hijacks the body’s natural process for making proteins. When Moderna’s vaccine triggers an immune response, the news lifts many small-cap biotech stocks like a wave. If you have been paying attention to the biotech space, you would know that small-cap biotech stocks are making big moves like never before. 

Many analysts think that for the economy to return to normalcy, we need a safe and effective vaccine against Covid-19. Even the WHO Director-General Tedros Adhanom Ghebreyesus said that many countries are headed in the wrong direction. And if we all don’t work together to tackle this issue, the virus is here to stay for some time. Now that global cases have surpassed 13 million, we need some defense against that. For this reason, biotech stocks that are developing diagnostic tests, treatments, and vaccines are increasingly important. With all that in mind, are these the best biotech stocks to buy or sell before Friday?

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Top Biotech Stocks To Buy [Or Sell]: AstraZeneca

AstraZeneca (AZN Stock Report) ranks among the biggest drugmakers in the world. The company generated over $24 billion in sales last year. Some investors could be drawn to AZN for its dividend, which currently yields 2.6%. Others might be more attracted to the company’s growth prospects which are quite appealing. And the more speculative traders are obviously most interested in the development of the company’s Covid-19 vaccine.

biotech stocks to buy (AZN stock)

The company’s vaccine candidate is the leading candidate among those produced by big pharma. Should the development be successful, AZN stock could be well-positioned to have a breakout. The company’s share price rose 7.5% late Wednesday after speculation that positive vaccine results are expected to be released on Thursday.

Also, AstraZeneca has several other growth drivers in addition to its Covid-19 vaccine candidate. This means that the company can still perform well even if the Covid-19 vaccine candidate doesn’t work out. Of course, if that really happens, the stock would likely give up some of its recent gains. In any case, AZN stock can potentially be one of the best stocks to buy if you are in it for the long run.

[Read More] Should You Buy These Biotech Stocks In 2020?

Top Biotech Stocks To Buy [Or Sell]: Rigel Pharmaceuticals

Rigel Pharmaceuticals (RIGL Stock Report) was one of the small-cap biotech stocks making big moves this week. The company share price skyrocketed more than 90% on Tuesday. This came after the biotech company announced the start of a clinical trial for a potential treatment for Covid-19. Rigel Pharmaceuticals’ first FDA approved product is TAVALISSE (fostamatinib disodium hexahydrate) tablets. The drug initially aimed to treat the autoimmune disorder. But now it potentially could be used to treat Covid-19 patients if it proves effective.

biotech stocks (RIGL stock)

Raul Rodriguez, Rigel’s president, and CEO commented, “Severe COVID-19 pneumonia can lead to acute respiratory distress syndrome, or ARDS, which can often be fatal. Given encouraging data from pre-clinical models of fostamatinib, we believe there is potential for SYK inhibition to help treat the severity of the disease for these patients and to prevent ARDS.”

The goal of the trial is to determine whether fostamatinib could reduce the number of patients who progress from mild or moderate Covid-19 to more severe cases. Shall it prove to be successful, we could see a spike in RIGL stock prices. While we cannot be certain whether it can be successful or not, RIGL stock appears to be one of the top biotech stocks we should include in our watchlist.

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