With the global rebound in coronavirus cases courtesy of the highly infectious Delta variant, health care stocks appear to be back in play. If anything, focus on this sector of the stock market would be higher than ever. When you consider the recent alarming updates from health care experts about the pandemic, this would make sense. Earlier today, Dr. Ezekiel Emanuel, the former Obama-era health advisor, said that the pandemic is far from “dying out”. He cites the remaining at-risk group consisting of children under the age of 12 as a key factor for this outlook. This would line up with the recent data suggesting that new COVID hospital admissions for kids are at an all-time high.
To combat the current trends, vaccine companies continue to kick into high gear. For instance, Pfizer (NYSE: PFE) and BioNTech (NASDAQ: BNTX) recently received full FDA approval for their coronavirus vaccine. While they may be the first, other names in the industry like Moderna (NASDAQ: MRNA) are also pushing for full approval now. In fact, the company just completed its full approval submission to the FDA earlier this week on Wednesday.
Aside from the current pandemic, general day-to-day health care also remains a vital aspect of life as well. Accordingly, work done across the industry whether it is from pharmaceutical giants or upcoming biotechs remains relevant. With all of this said, would these health care stocks be top picks in the stock market today?Top Health Care Stocks To Watch Today
- Neurometrix Inc. (NASDAQ: NURO)
- AbbVie Inc. (NYSE: ABBV)
- Novavax Inc. (NASDAQ: NVAX)
- Johnson & Johnson (NYSE: JNJ)
- RenovoRx Inc. (NASDAQ: RNXT)
Neurometrix is a leading developer and manufacturer of diagnostic and therapeutic neurostimulation-based medical devices. Its products are used by patients throughout the world and it has 3 FDA-cleared commercial products.
Notably, its DPNCheck is a point-of-care test that is used to evaluate peripheral neuropathies. The company’s ADVANCE is a point-of-care device that provides nerve conduction studies as an aid in diagnosing and evaluating patients suspected of having focal or systemic neuropathies.
This latest rally could be due to investors who are active on social media platforms like Reddit and Twitter appear to be coordinating a short squeeze. The short squeeze is an attempt to push the stock’s valuation up higher as other meme stocks have been in the past. Last month, the company received Breakthrough Designation from the FDA for treating the symptoms of fibromyalgia in adults. All things considered, will you add NURO stock to your portfolio right now?
Read MoreAbbVie Inc.
AbbVie is a biopharmaceutical company with headquarters in Illinois. The company essentially develops advanced therapies to treat some of the world’s greatest health challenges. AbbVie has helped improve the lives of people across several therapeutic areas. Namely, this includes immunology, oncology, neuroscience, eye care, and virology.
On August 24, 2021, the company announced that the European Commission (EC) has approved Rinvoq, an oral reversible JAK inhibitor for the treatment of moderate to severe atopic dermatitis in adults and adolescents 12 years and older. The approval is supported by data from one of the largest registrational Phase 3 programs in atopic dermatitis evaluating Rinvoq monotherapy or with topical corticosteroids.
Impressively, the drug met all primary and secondary endpoints, demonstrating rapid and significant improvement in skin clearance and itch reduction compared to placebo at earlier time points. Given all of this, will you consider investing in ABBV stock?Novavax Inc.
Next, we have Novavax, a clinical-stage vaccine company committed to delivering novel products to prevent a broad range of infectious diseases. Its recombinant nanoparticles and adjuvant technology are game-changing and continuously strive to improve global health.
On Wednesday, the company announced that its recombinant nanoparticle protein vaccine candidate is being studied in OCTAVE-DUO, now underway in the UK to evaluate the safety and immunogenicity of a third coronavirus vaccine dose in participants with impaired immune systems.
“We expect the results of this study to be particularly helpful to better understanding how our vaccine might work as a heterologous third dose in immunocompromised individuals,” said Gregory M. Glenn, M.D., President of Research and Development, Novavax. The company’s vaccine candidate has shown to be effective against the newer strains of the coronavirus. For these reasons, would NVAX stock be a top pick for you?Johnson & Johnson
Following that is Johnson & Johnson (JNJ), another notable player in the coronavirus vaccine space now. For the most part, JNJ identifies as a developer and provider of medical devices, pharmaceuticals, and consumer packaged goods. For over a century, JNJ has and continues to provide for the lifestyle and health care needs of consumers globally. By JNJ’s estimates, it is the world’s largest and broad-based health care company in the market.
Now, the company’s current vaccine candidate is among the few that only require one dose for initial inoculation. However, as with most of its peers, the company is now looking towards developing a booster shot for its vaccine to combat the more infectious Delta variant.
Earlier this week, JNJ reported that its booster shot “generated a rapid and robust” immune response in early clinical-stage trials. Notably, the effect was nine times greater than that of the initial 28-days after the first shot. With this in mind, would you consider JNJ stock worth investing in now?RenovoRx Inc.
Last but not least, we will be taking a look at RenovoRx, a California-based biopharmaceutical company. In brief, the company primarily operates via its proprietary therapy platform, the RenovoRx Trans-Arterial Micro-Perfusion (RenovoTAMP). Through the RenovoTAMP, the company delivers its lead product candidate RenovoGem towards “difficult-to-treat tumors”. If anything, all this would contribute to the current hype around
Currently, the company’s tech is under investigation to increase survival and improve the quality of life for pancreatic cancer patients. By and large, the precision of Renovo’s tech could make it a health care player to note in the market today.
For now, RenovoGem is currently classified under FDA Orphan Drug designation as a potential treatment for pancreatic cancer and bile duct cancer. All in all, time will tell if Renovo can make the most of its current operations. In the meantime, would you consider keeping an eye on RNXT stock moving forward?