The coronavirus pandemic has resulted in a major crisis in the markets over the past weeks, and many stocks across a range of sectors have recorded substantial declines during this period. However, one of the sectors that has emerged with a lot of promise in these times is the biotech space, and it could be a good time for investors to start tracking the best biotech stocks in the market. Due to the coronavirus pandemic, the biotech industry has come into sharp focus, and in such a situation, it is only natural for investors to hunt for the best biotech stocks in the market.
The biotech sector has emerged as one of the few sectors in the economy that has not experienced as much damage as many of the other sectors. Here is a quick look at four of the best biotech stocks that could be worth adding onto the watch lists.
Best Biotech Stocks to Buy: CRISPR Therapeutics (NASDAQ:CRSP)
One of the best biotech stocks to have emerged in recent days is that of CRISPR Therapeutics, and investors could do well to keep an eye on it. The company is a market leader in CRISPR technology, which uses a DNA segment that has repetitions of base sequences. It is a sufficiently important technology for the overall development of the biotech sector since it could well be the first step towards manufacturing customized medicines.
At this point in time, the company is aiming to create medicines that are specifically meant for different forms of cancers and other specific diseases. However, the promise of CRISPR lies in the fact that the technology can actually be used in a wide category of medicine. Over the past month, CRSP stock has gained 30%.
Best Biotech Stocks to Buy: Acceleron Pharma (NASDAQ:XLRN)
Acceleron Pharma has also emerged as a promising option for investors who are looking to invest in the best biotech stocks. Acceleron stock has had a rollercoaster ride in 2020. One of its products was rejected by the FDA in September 2019, but soon after, the product, luspatercept, received FDA breakthrough therapy designation.
Another major positive for the company was the positive data from the Phase 2 clinical trial of its pulmonary arterial hypertension product. The data was released in January, creating a lot of positivity around Acceleron stock.
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Investors soon piled on to the stock on the back of these developments. XLRN stock rallied by 135%. Over the past month, it has gained 38%.
Best Biotech Stocks to Buy: Neurocrine Biosciences (NASDAQ:NBIX)
Over the past quarter of a century, Neurocrine has been involved in discovering treatments for a range of psychological and neurological disorders. In turn, the company has also emerged as one of the best biotech stocks on the market.
At this point in time, the company provides treatments meant for tardive dyskinesia and endometriosis. It has other products in the pipeline as well. As a matter of fact, its promising product pipeline may have led to Biogen (NASDAQ:BIIB) to make Neurocrine an acquisition target. The company’s impressive pipeline and the presence of a revenue-generating product portfolio make it a compelling option for many investors. NBIX stock has gained 20% over the past month.
Featured image: DepositPhotos © Alex011973
