4 Top Biotech Stocks To Buy In The Time Of Coronavirus
Zacks Investment Research | Mar 15, 2020 10:42PM ET
Stock markets around the world continue to take a beating as the coronavirus outbreak shows no sign of ebbing. Major U.S. bourses recently saw their worst losses in years despite Trump’s stimulus measures and the Fed’s aggressive monetary policies.
For markets to bounce back, the development of a coronavirus vaccine or treatment is of utmost importance. So, is it the best time to scoop up biotech stocks that are especially working on a potent vaccine?
It certainly is. Moreover, President Trump signed a $8.3-billion spending package last month to stimulate the economy. The emergency fund will be used to help slow down the impact of the virus on the economy. The package in particular will help companies that are involved in research and development of vaccines for the deadly virus as well as those that are aiming to prevent its rapid spread.
However, most of the biotech companies’ efforts are in early stages of development of the drug. Thus, investors should keep an eye on a company’s fundamentals, management team and history, to name a few.
A handful of biotech companies are widely expected to efficaciously develop a vaccine for coronavirus, fighting off the worst stock market carnage since the 2008 financial crisis. Here’re the notable picks
Regeneron Builds on Ebola Knowledge
Based on Ebola knowledge, Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) is making a vaccine to tackle COVID-19. The company’s initiative to prepare such a potent weapon helped its shares increase leaps and bounds this year, especially when compared to the mere 2.5% it brought in over the last 12 months.
Regeneron, in itself, is doing pretty well. The company’s key drugs — Eylea and Dupixent – have been performing well. Label expansion into additional indications should further increase the commercial potential of the drugs.
Regeneron currently possesses a Zacks Rank #1 (Strong Buy). The Zacks Consensus Estimate for its current-year earnings has moved up 8.8% over the past 60 days. The company’s expected earnings growth rate for the current and next quarter is 41.4% and 21.3%, respectively. You can see Zacks Investment Research
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