Are These The Best Biotech Stocks To Buy Right Now?

Even with inflation data coming in hotter-than-expected, investors would likely be looking for the most active stocks today. Should this be the case,

biotech stocks

would make for a viable option in the stock market now. For the most part, this would be the case as the industry continues to churn out new developmental pipeline updates. The likes of which can act as catalysts for the top biotech stocks around. For one thing, companies gaining momentum from regulatory updates could draw attention as markets react to the latest inflation figures.

For those unaware, the Bureau of Labor Statistics’ Consumer Price Index (CPI) reading for May has been released this past week. According to the report, the CPI for May is up by 8.6% year-over-year. This would be above consensus economist estimates of an 8.3% increase. Not to mention, it would also be the biggest jump in this key inflationary measure since 1981. With inflation at a 40-year high, more adventurous investors could be considering the headline-making names in the biotech space now.

Take

Bluebird bio

(

NASDAQ: BLUE

) for example. Just last week, the company received a positive update on its gene therapy, eli-cel. According to Bluebird, the U.S. Food and Drug Administration’s (FDA) advisory committee unanimously endorsed the treatment for use in early active cerebral adrenoleukodystrophy. At the same time, coronavirus vaccine makers such as

Moderna

(

NASDAQ: MRNA

) are also hard at work. Earlier this week, the company revealed that its updated booster shot produces stronger responses against the Omicron variant of the virus. With all that in mind, here are three more biotech stocks to note in the

stock market

today.

Biotech Stocks To Buy [Or Sell] This Month

• 
  Pfizer Inc.
  
  (
  
  NYSE: PFE
  
  )
• 
  AbbVie Inc.
  
  (
  
  NYSE: ABBV
  
  )
• 
  Novavax Inc.
  
  (
  
  NASDAQ: NVAX
  
  )

Pfizer Inc.

Pfizer

is a biotech company that continues to bring life-saving therapies, medicines, and vaccines to the masses. With over 170 years of experience in the industry, it advances wellness and treatments for some of the most challenging diseases in today’s society. This includes its coronavirus vaccine with over 2 billion doses shipped across the globe.

On Thursday, the company announced that it has completed the acquisition of ReViral. ReViral is a private clinical-stage biopharmaceutical company. It focuses on discovering and commercializing novel antiviral therapeutics that target respiratory syncytial virus (RSV). Accordingly, ReViral brings to Pfizer a portfolio of promising therapeutic candidates, including sisunatovir, an orally administered inhibitor designed to block fusion of the RSV virus to the host cell. Sisunatovir has fast-track designation by the U.S. FDA. It has significantly reduced viral load in a phase 2 RSV human challenge study in healthy adults. The treatment is also currently in phase 2 clinical development in infants.

Also, Pfizer recently announced that it plans to invest $120 million to produce its Paxlovid oral treatment for the coronavirus. In brief, the investment will expand on the production of active pharmaceutical ingredients (API) and registered starting materials. These are used in the manufacturing of nirmatrelvir, which makes up one component of Paxlovid. The investment will help expand the facility at Kalamazoo, Michigan. Given all of this, is PFE stock worth investing in right now?

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AbbVie Inc.

Following that, we have

AbbVie

, a health care company that discovers and develops innovative medicines that help solve serious health issues that plague the world today. It has an impressive portfolio of therapeutics across several key fields like oncology and immunology. The company has been firing on all cylinders lately with multiple announcements of positive findings in the last few months.

Notably, this would include positive results from its Phase 3 SELECT-AXIS 2 Trials of Upadacitinib. Diving in, it demonstrated significantly greater improvements in signs and symptoms, pain, function, and health-related quality of life when compared to a placebo at week 14. Furthermore, safety data were consistent with the known safety profile of upadacitinib, with no new risks observed.

“The new data observed from SELECT-AXIS 2 reinforce the potential of upadacitinib for patients across the spectrum of axial spondyloarthritis disease,”

said Neil Gallagher, M.D., Ph.D., vice president, development, chief medical officer, AbbVie.

“At AbbVie, the needs of patients drive us to continue to innovate new ways to change the treatment landscape. We are encouraged by these positive data, which we hope will lead to the availability of a new treatment option for patients with nr-axSpA.”

Last week, it also announced new data from Cohort 3 of its Phase 2 REFINE study of investigational navitoclax. Navitoclax is used for patients with myelofibrosis (MF), a rare and difficult to treat blood cancer. The data is supportive of early intervention in MF to achieve improved clinical outcomes in spleen volume reduction, symptoms score, and bone marrow fibrosis. With all this in mind, is ABBV stock a buy in your opinion?

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Novavax Inc.

Another notable player in the biotech space now would be

Novavax

. Overall, the biotech company specializes in developing vaccines to treat infectious diseases. As it stands, the company’s portfolio consists of vaccines for Ebola, influenza, and respiratory syncytial virus among other emerging infectious illnesses. Also worth noting, the company is actively working on a coronavirus vaccine. Thanks to the latest developments on this front, NVAX stock could be worth looking out for.

In detail, Novavax received the green light from the FDA’s advisory panel regarding the use of its coronavirus vaccine in adults. Following a 21 to 0 vote, the FDA is now recommending the company’s shot for Emergency Use Authorization (EUA). This would make Novavax the fourth company to receive this regulatory feat. Moreover, it is also the first protein-based coronavirus vaccine available in the U.S.

All in all, CEO Stanley Erck notes that the advisory panel’s positive comments showcase the strength in Novavax’s clinical data. On top of that, the also argues that it highlights the importance of protein-based coronavirus vaccine development. With this being a more conventional means of vaccine development, health officials could be appealing to the unvaccinated population now. After taking all this into consideration, will you be adding NVAX stock to your portfolio anytime soon?

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