Can These Top Health Care Stocks Keep Up Their Momentum This Week?
The health care sector continues to play a critical role in the economy. This could mean well for investors who have invested in health care stocks. Despite the pandemic placing an enormous strain on the global health care sector’s workforce, infrastructure and also exposing social inequalities in health care, there is a silver lining to it. The pandemic had also accelerated change across the health care ecosystem. In summary, it has forced both public and private health care systems to adapt in a short span. This can be seen in health care stocks like Fulgent Genetics (NASDAQ: FLGT) and Moderna (NASDAQ: MRNA). These stocks have enjoyed astronomical returns in the last year.
After reporting an amazing year, Fulgent and its core genetics testing business seem ready to pick up after coronavirus testing declines. In the company’s fourth-quarter results posted earlier this month, it reported a record revenue of $295 million, growing by a staggering 3,400% year-over-year. Besides that, we have vaccine development company Moderna. Moderna was one of the first in the world to have its coronavirus vaccine approved by the U.S. Food and Drug Administration (FDA).
Best Health Care Stocks To Watch Right Now
- Ocuphire Pharma Inc. (NASDAQ: OCUP)
- Gilead Sciences (NASDAQ: GILD)
- Rubius Therapeutics Inc. (NASDAQ: RUBY)
- GenMark Diagnostics Inc. (NASDAQ: GNMK)
Ocuphire Pharma Inc.
Ocuphire is a clinical-stage biopharmaceutical company. In detail, it focuses on developing and commercializing therapies for the treatment of eye disorders. Its pipeline includes two small-molecule product candidates targeting from and back of the eye indications. Furthermore, the company’s lead product candidate is Nyxol Eye Drops, which is used for several indications like dim light or night vision disturbances and presbyopia. Today, the company announced positive top-line results in the MIRA-2 Phase 3 registration trial investigating Nyxol.
The successful outcome of this registration trial is a major milestone for Ocuphire. Nyxol has shown a statistically significant improvement on the primary as well as multiple secondary endpoints. This demonstrates its ability to more rapidly return pupil diameter to normal baselines over multiple timepoints. Besides Nyxol, it also expects promising results from its Phase 2 VEGA-1 trial and Phase 3 LYNX-1 trial later this year. Given the excitement surrounding the company, will you buy OCUP stock?
Gilead is a health care company that is based in California. Its antiviral drugs treat HIV, hepatitis B, and hepatitis C patients. Accordingly, the company has over 30 years of experience and has brought forward medicines for many life-threatening diseases. GILD stock currently trades at $63.07 a share. Today, the company announced an agreement with Merck (NYSE: MRK) to jointly develop and commercialize long-acting, investigation treatment combinations of Lenacapavir and Islatravir in HIV.
The agreement will allow them to combine both treatments into a two-drug regimen. It has the potential to provide new and meaningful treatment options for people living with HIV. This two-drug regimen could also be a more effective means of treating approximately 38 million people across the globe who currently have HIV. Last month, the company also announced impressive fourth-quarter results. In it, the company reported that its product sales increased by 26% to $7.3 billion primarily due to Veklury. Its drug Veklury continues to play a central role in the pandemic as it is used to treat one in two hospitalized patients in the U.S. Gilead also reported a diluted earnings per share of $1.23 for the quarter. All things considered, will you add GILD stock to your portfolio?
Rubius Therapeutics Inc.
Rubius is a health care company that develops cellular medicines. It utilizes its RED PLATFORM to create red blood cells and transform them into life-changing cellular therapies for patients with cancer and autoimmune disease. In detail, the company believes that its new class of medicines called Red Cell Therapeutics will have broad therapeutic applications across a range of solid tumors and hematological cancers. RUBY stock has increased by over 84.36% on Monday’s trading day and currently trades at $30.29 as of today’s closing bell. In this latest rally, investors are responding to Rubius’s announcement of its initial clinical data from its ongoing Phase 1/2 trial of RTX-240 in patients with advanced solid tumors.
From the data it shared, Rubius believes that it provides an initial proof-of-concept of the effectiveness of the RED PLATFORM by providing evidence that red blood cells can be engineered to mimic the human immune system. It is also able to stimulate adaptive and innate immunity to generate clinical responses in cancer patients. Also, given the encouraging initial safety and preliminary efficacy data for RTX-240, the company plans to initiate a Phase 2 Expansion cohort in the first quarter of 2022. Given the excitement surrounding the company, will you consider RUBY stock as a top health care stock to consider buying?
GenMark Diagnostics Inc.
GenMark is a molecular diagnostic company. It focuses on developing and commercializing multiplex molecular tests that aid in the diagnosis of complex medical conditions. In detail, it is a provider of multiplex molecular diagnostic solutions designed to enhance patient care and improve key quality metrics. Today, Swiss multinational health care company Roche announced that it will buy GenMark in a $1.8 billion deal. The deal had caused GNMK stock to rise by over 29% during Monday’s trading day and it currently closed the day at $23.98.
“Acquiring GenMark Diagnostics will broaden our molecular diagnostics portfolio to include solutions that can provide lifesaving information quickly to patients and their healthcare providers in the fight against infectious diseases,” Roche Chief Executive Officer Thomas Schinecker said in a statement. Roche said the acquisition, which has been approved by the boards of both companies, is expected to be completed during the second quarter of 2021.