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Biotech stocks to keep on your radar this month.

2 Biotech Stocks To Watch In August 2024

Posted August 14, 2024 at 1:50 pm
StockMarket.com

The biotech sector focuses on developing innovative medical treatments using biological processes. These companies research and create new drugs, therapies, and medical devices. Biotech stocks represent ownership in these cutting-edge firms. The sector is known for its potential to revolutionize healthcare and generate significant returns. However, it’s also associated with high risk due to the complex nature of drug development.

These companies have the potential for substantial growth if a company succeeds in developing a breakthrough treatment. Successful drugs can lead to long-term revenue streams protected by patents. Biotech companies are often targets for acquisitions by larger pharmaceutical firms. However, biotech investments come with considerable risks. Many companies fail to bring products to market. The drug approval process is lengthy, expensive, and uncertain. Biotech stocks can be highly volatile, reacting strongly to trial results or regulatory decisions.

Biotech Stocks To Watch Now

  • Regeneron Pharmaceuticals Inc. (NASDAQ: REGN)
  • Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX)

Regeneron Pharmaceutical (REGN Stock)

Regeneron Pharmaceuticals Inc. (REGN) is a biotechnology company that discovers, develops, and commercializes medicines for serious diseases. They focus on areas such as eye diseases, allergic and inflammatory diseases, cancer, and cardiovascular diseases. Regeneron is known for its proprietary technologies in drug development, including its VelociSuite® platforms.

At the beginning of this month, Regeneron Pharmaceuticals announced its second-quarter 2024 financial results. The company posted earnings of $11.79 per share, with revenue of $3.55 billion for Q2 2024. This is in comparison with Wall Street’s consensus estimates of $10.62 per share, and revenue estimates of $3.39 billion. Additionally, revenue gained by 12.32% versus the same period, the previous year. 

Year-to-date, shares of REGN stock are up by 27.99% thus far. While, as of Tuesday’s closing bell, REGN stock finished the trading day up 3.32% at $1,158.33 a share.

Vertex Pharmaceuticals (VRTX Stock)

Vertex Pharmaceuticals Incorporated (VRTX) is a global biotechnology company that invests in scientific innovation to create transformative medicines. They are particularly known for their work in cystic fibrosis treatments. Vertex also has ongoing research programs in other areas such as pain management, alpha-1 antitrypsin deficiency, and APOL1-mediated kidney diseases.

Earlier this month, Vertex Pharmaceuticals also reported its Q2 2024 financial results. Diving in, the company announced a loss of $12.76 per share, with revenue of $2.65 billion for the second quarter of 2024. This is versus estimates for the quarter, which were a loss of $12.03 per share, and revenue estimates of $2.64 billion. In addition, the company said it expects 2024 revenue of $10.65 billion to $10.85 billion.

In 2024 so far, shares of VRTX stock have advanced by 13.79% YTD. Moreover, Vertex Pharmaceuticals closed the trading day on Tuesday higher by 0.66%, at $467.59 a share.

Originally Posted August 13, 2024 – 2 Biotech Stocks To Watch In August 2024

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