Biotechnology companies develop medications and treatments that can transform the way we live. When a biotech firm gets it right, it can result in billions of dollars in sales. However, it’s not easy to play the market. Investors buy biotech stocks for a chance at huge gains, but they face significant risks as well. Overall, the sector performed well this year as it followed the market higher.
For more biotech stocks, check out our top-ranked picks here. If you’re interested in investing in the healthcare sector, be sure to read out complete breakdown of the best healthcare stocks.
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Five Biotech stocks to buy now
Here are the top biotech stocks to consider adding to your portfolio now.
BioCryst Pharmaceuticals, Inc. (BCRX)
BioCryst Pharmaceuticals rallied 10.41% over the past few days. Shares gained 9.14% in early session trading on Monday, and they could continue gaining this week.
There is no obvious catalyst behind the increase in BioCryst Pharmaceuticals’ stock. The North Carolina-based company is known for manufacturing antivirals and autoimmune disease drugs. Share prices moved erratically in recent days. However, it could surge higher following Monday morning’s mini-rally.
Stealth BioTherapeutics Corp (MITO)
Stealth BioTherapeutics Corp is trading at $8.64 per share, up by 11.77% over the past few days. The Cayman Islands-based firm performed well following its Q3 earnings report.
The biotech company released its Q3 2019 financial results on Thursday, November 14. The company incurred a loss of $16.5 million in the quarter ended in September 2019. This represents a $0.04 EPS loss. Stealth BioTherapeutics Corp spent money mostly on R&D and general expenses.
However, Stealth BioTherapeutics Corp recorded other important deals, such as its option agreement with Alexion to co-develop and commercialize elamipretide.
Lineage Cell Therapeutics Inc. (LCTX)
Lineage Cell Therapeutics Inc. is another biotech stock you can buy now. The stock is trading at $0.87 per share, up by 9.02% in 24 hours. Many analysts maintain a positive outlook on this tiny biotech stock.
The California-based company generated $0.6 million in revenue in the third quarter of 2019, down by $0.4 million from the same quarter of 2018. However, the Lineage Cell Therapeutics Inc. plans to reduce operating costs for to $16 million in 2020, down significantly from its initial forecasts of $24-$28 million.
During the quarterly report, Lineage Cell Therapeutics Inc. provided investors with an update on some of its drugs and studies, including OpRegen, Renevia, and more.
Qiagen NV (QGEN)
Qiagen’s shares are up by 3.80% during Monday’s pre-market trading session and are set to surge higher over the coming hours and days. The shares of the company jumped earlier today after they announced that they are open to takeover talks with potential suitors.
The ownership of the German company could change hands soon after life sciences tools maker Thermo Fisher Scientific Inc. approached them over an acquisition deal. Qiagen NV has now come out to declare that it is open for takeover talks with interested parties.
The stock is trading at $42.10 at Monday’s pre-market session but could go higher in the coming days.
Fortress Biotech (FBIO)
Fortress Biotech’s stock is up by 7.88% to trade at $1.78 per share at Monday’s pre-market session. The US-based biotech company has enjoyed a great year, with the stock up by over 50% YTD.
Fortress Biotech reported its third-quarter finances on Tuesday, November 12. The company generated $9.8 million in sales, which is higher than the $5/2 million recorded in the same quarter last year.
More Top Biotech Stocks to Buy
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