You can’t deny that 2020 was a banner year for health care stocks, in general, because of the coronavirus pandemic. While the pandemic continues to ravage certain countries, the sector remains a viable one in the stock market today, nonetheless. As the broader market aims to shake off its recent losses, investors may be turning towards health care stocks. After all, these are the companies that improve our overall quality of life, a noble and crucial line of work indeed. From life-saving drugs to day-to-day treatment, there are plenty of entry points into the industry for eagle-eyed investors now.

For instance, coronavirus vaccine frontrunner Moderna (NASDAQ: MRNA) continues to deliver positive updates. Earlier this week, the company revealed that its vaccine candidate was 100% effective in teenagers. As such, Moderna is now planning to seek FDA approval by early June. Because of this, MRNA stock is looking at massive gains of over 230% in the past year.

Elsewhere, even some of the largest names in tech appear to have their sights on the health care industry now. Namely, Google’s (NASDAQ: GOOGL) cloud computing arm is currently working with HCA Healthcare (NYSE: HCA). Google Cloud will essentially develop algorithms to improve efficiency and patient outcomes. With all this activity in the field now, you might be interested to add some top health care stocks to your watchlist. Here are five making headlines in the stock market now.

Pfizer is a multinational pharmaceutical corporation that is headquartered in New York City. The company develops and produces medicines and vaccines for a wide branch of medical fields. This would include oncology, cardiology, and immunology among others. PFE stock currently trades at $38.76 as of 1:27 p.m. ET. The company has been one of the most successful vaccine companies so far given how it got its coronavirus vaccine to be approved at breakthrough speeds.

Last week, Pfizer announced that it will be supplying the European Union with up to 1.8 billion additional doses of its vaccines. These additional doses will be delivered beginning December 2021 through 2023. Pfizer along with BioNTech (NASDAQ: BNTX) has now committed a total of up to 2.4 billion doses of its vaccine to the European Commission since the beginning of the pandemic. This would of course translate to huge profits for the company in the months and years ahead. For these reasons, will you consider adding PFE stock to your watchlist?

Ocugen is a health care company that focuses on discovering, developing, and commercializing transformative therapies to treat rare eye diseases. Specifically, its gene therapy platform is revolutionary and has the potential to treat multiple retinal diseases with one drug. OCGN stock currently trades at $7.92 as of 11:48 a.m. ET and has been up by over 140% year-to-date. On Tuesday, the company says it is on track to submit an Emergency Use Authorization (EUA) application to the U.S. FDA for its coronavirus vaccine candidate, COVAXIN.

It is developed based on a traditional vaccine platform that has a long-established safety profile. COVAXIN has a vaccine efficacy rate of 78% overall efficacy and 100% in severe diseases, including hospitalization as shown in its second interim results. Ocugen’s vaccine candidate also generates a strong immune response against multiple antigens and is shown to generate memory T cell responses. This would indicate longevity and rapid antibody response to future infections. Given this piece of news, will you consider watching OCGN stock?

Medtronic is a health care company that focuses on medical devices. The company operates in over 150 countries and employs over 90,000 people. Furthermore, it is one of the world’s largest medical technology, services, and solutions companies. Its devices and therapies treat more than 30 chronic diseases including heart failure and Parkinson’s disease. MDT stock currently trades at $126.17 as of 11:48 a.m. ET. The company had just reported its fourth-quarter and fiscal year 2021 financials today.

Firstly, it posted quarterly revenue of $8.2 billion, up by 37% year-over-year. A huge portion of its revenue came from its U.S. market, at $4.182 billion, representing 51% of total revenue. Secondly, it also reported a quarterly GAAP diluted earnings per share of $1.00. Net income for the quarter was $2.038 billion, an increase of 162% year-over-year. With such impressive financials, is MDT stock worth watching?

[Read More] Hot Stocks To Buy Now? 5 Cyclical Stocks To Watch

Rezolute is a clinical-stage biopharmaceutical company that develops innovative drug therapies for patients with metabolic and rare diseases. In brief, its lead product candidate is RZ358 and is used to treat congenital hyperinsulinism (CHI). RZLT stock currently trades at $11.44 as of 11:49 a.m. ET and has been up by over 35% on today’s opening bell. Investors seem to be responding to the company announcing that it will be participating in an upcoming virtual health care conference. Could Rezolute be about to announce some breakthrough in its pipeline?

Well, Oppenheimer (NYSE: OPY) analyst Kevin DeGeeter appears to believe so. In his coverage of RZLT stock yesterday, DeGeeter reportedly hit it with a buy rating and a $25.00 price target. Similarly, analysts from Canaccord Genuity also reiterated a buy rating on the stock with a $30.00 price target. In theory, we could be looking at a potential upside of over 260% of RZLT stock’s current price. No doubt, this coupled with the company’s upcoming presentations could be generating investor hype around the stock now. Would you consider keeping an eye on RZLT stock?

[Read More] Best Lithium Battery Stocks To Buy Now? 4 To Know

Next up, we will be looking at medical tech company, Nemaura Medical Inc. In essence, the company specializes in developing non-invasive and minimally invasive wearable diagnostic devices. The likes of which rely on artificial intelligence to bolster its digital health care capabilities. Also, Nemaura’s flagship device is its non-invasive continuous glucose monitoring (CGM) device, the sugarBEAT. Complementing the sugarBEAT is Nemaura’s proprietary health care platform, BEATdiabetes. If anything, this would make NMRD stock a viable means of betting on the diabetes treatment industry. With the company’s stock currently trading at $13.86 a share as of 11:49 a.m. ET, could it be worth jumping on?

For the most part, Nemaura has been busy on the operational front. Earlier this month, the company received an order for a whopping 200,000 sugarBEAT sensors and 5,000 sugarBEAT transmitters. The order in question was made from Nemaura’s U.K. licensee, DB Ethitronix, with an additional rolling monthly purchase over the next two years. Specifically, this would amount to an overall order consisting of 2.1 million sensors and 15,000 transmitters.

According to Nemaura this is thanks to significant positive feedback from its U.K. soft launch of sugarBEAT. Subsequently, the company is also planning to launch its product in Germany, Saudi Arabia, and the United Arab Emirates. Overall, we could be looking at exciting times ahead for NMRD stock. Would you consider it a top watch now?

Source: Stockmarket.com

Powered by NewsAPI.org