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Buy 5 Top Medical Stocks on Coronavirus Drug Trial Results
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Finally, some good news has emerged on the coronavirus front. On Apr 16, after the closing bell of the market, the STAT News reported that the University of Chicago’s phase 3 clinical trial data of the drug Remdesivir for the treatment of coronavirus (COVID-19) showed encouraging results. The study found that most of the patients treated with remdesivir had “rapid recoveries in fever and respiratory symptoms” and were discharged in less than a week.
Following the news, futures on three major stock indexes — the Dow, the S&P 500 and the Nasdaq Composite — jumped nearly 3%. Moreover, the share price of Gilead Sciences Inc. (GILD - Free Report) , the developer of remdesivir surged 16.4% in the aftermarket trade.
Remdesivir Shows Encouraging Results
The University of Chicago Medicine recruited 125 patients infected with the coronavirus among which 113 were severely ill. These patients were treated with Gilead’s two late-stage clinical trials. Notably, the company aims to recruit 4,000 coronavirus patients for this trial.
However, the results are based on a very small sample and full clinical-trial data is yet to be disclosed. Gilead is expected to release clinical trial results involving patients with severe coronavirus syndrome, later this month. Data on trial testing on patients with moderate symptoms is expected in May. All the patients have been treated with daily infusions of remdesivir.
The whole world has pinned hopes on pharmaceutical and biotech companies to create drugs and vaccine to help combat COVID-19. The coronavirus pandemic has almost crippled the global economy. Like most countries, the United States has been trying to contain the spread of the virus by enforcing lockdown in absence of any vaccine or line of treatment. This has dealt a severe blow to lives of people but also the economy.
previously, remdesivir had shown promising results in treating SARS and MERS and to contain the outbreak of Ebola. According to Kathleen Mullane, the University of Chicago infectious disease specialist overseeing the remdesivir studies, “The best news is that most of our patients have already been discharged, which is great. We’ve only had two patients perish.”
Our Top Picks
Gilead Sciences currently has a Zacks Rank #3 (Hold). In addition to Gilead, several other companies with a favorable Zacks Rank also have promising candidates for the potential treatment of COVID 19 patients. At this stage, investment in these companies will be prudent. We have narrowed down our search to five such companies each carries either a Zacks Rak #1 (Strong Buy) or 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The chart below shows the price performance of our five picks in the past month.
Regeneron Pharmaceuticals Inc. (REGN - Free Report) is working on developing monoclonal antibodies as treatment for COVID-19. The Zacks Rank #1 company is utilizing its VelocImmune platform to study genetically-engineered mice with humanized immune systems in preclinical testing. It has targeted developing hundreds of thousands of prophylactic doses for human testing by end of August. The company has an expected earnings growth rate of 11.1% for the current year.
Moderna Inc. (MRNA - Free Report) is in the process to developing mRNA vaccine against COVID-19. The Zacks Rank #2 company has initiated an open-label Phase I clinical trial to test mRNA-1273 as a vaccine for COVID-19 in the United States. It aims to enrol 45 healthy adult patients, between the ages of 18 and 55 years for clinical trial. The study is expected to conclude by Jun 1, 2021. The company has an expected earnings growth rate of 2.6% for the current year.
Sanofi (SNY - Free Report) is testing a preclinical vaccine candidate for COVID-19 using its recombinant DNA platform. The Zacks Rank #2 announced a separate program to develop a mRNA vaccine for COVID-19. It is likely to commence Phase 1 clinical trial between March 2021 and August 2021. The company has an expected earnings growth rate of 4.5% for the current year.
Vaxart Inc. (VXRT - Free Report) has five vaccine candidates for the treatment of COVID-19 in preclinical testing. The Zacks Rank #2 company plans to start a Phase 1 clinical trial in the second half of 2020 in the United States. The clinical-stage company is one of the pioneers in developing vaccine for COVID-19. The company has an expected earnings growth rate of 97.7% for the current year.
Eli Lilly and Co. (LLY - Free Report) will study its drug baricitinib as an arm in the National Institute of Allergy and Infectious Diseases' Adaptive COVID-19 Treatment Trial. The Zacks Rank #2 will advance LY3127804 to Phase 2 testing in pneumonia patients hospitalized with COVID-19 who are at a higher risk of progressing to acute respiratory distress syndrome. The company has an expected earnings growth rate of 12.1% for the current year.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
Image: Bigstock
Buy 5 Top Medical Stocks on Coronavirus Drug Trial Results
Finally, some good news has emerged on the coronavirus front. On Apr 16, after the closing bell of the market, the STAT News reported that the University of Chicago’s phase 3 clinical trial data of the drug Remdesivir for the treatment of coronavirus (COVID-19) showed encouraging results. The study found that most of the patients treated with remdesivir had “rapid recoveries in fever and respiratory symptoms” and were discharged in less than a week.
Following the news, futures on three major stock indexes — the Dow, the S&P 500 and the Nasdaq Composite — jumped nearly 3%. Moreover, the share price of Gilead Sciences Inc. (GILD - Free Report) , the developer of remdesivir surged 16.4% in the aftermarket trade.
Remdesivir Shows Encouraging Results
The University of Chicago Medicine recruited 125 patients infected with the coronavirus among which 113 were severely ill. These patients were treated with Gilead’s two late-stage clinical trials. Notably, the company aims to recruit 4,000 coronavirus patients for this trial.
However, the results are based on a very small sample and full clinical-trial data is yet to be disclosed. Gilead is expected to release clinical trial results involving patients with severe coronavirus syndrome, later this month. Data on trial testing on patients with moderate symptoms is expected in May. All the patients have been treated with daily infusions of remdesivir.
The whole world has pinned hopes on pharmaceutical and biotech companies to create drugs and vaccine to help combat COVID-19. The coronavirus pandemic has almost crippled the global economy. Like most countries, the United States has been trying to contain the spread of the virus by enforcing lockdown in absence of any vaccine or line of treatment. This has dealt a severe blow to lives of people but also the economy.
previously, remdesivir had shown promising results in treating SARS and MERS and to contain the outbreak of Ebola. According to Kathleen Mullane, the University of Chicago infectious disease specialist overseeing the remdesivir studies, “The best news is that most of our patients have already been discharged, which is great. We’ve only had two patients perish.”
Our Top Picks
Gilead Sciences currently has a Zacks Rank #3 (Hold). In addition to Gilead, several other companies with a favorable Zacks Rank also have promising candidates for the potential treatment of COVID 19 patients. At this stage, investment in these companies will be prudent. We have narrowed down our search to five such companies each carries either a Zacks Rak #1 (Strong Buy) or 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The chart below shows the price performance of our five picks in the past month.
Regeneron Pharmaceuticals Inc. (REGN - Free Report) is working on developing monoclonal antibodies as treatment for COVID-19. The Zacks Rank #1 company is utilizing its VelocImmune platform to study genetically-engineered mice with humanized immune systems in preclinical testing. It has targeted developing hundreds of thousands of prophylactic doses for human testing by end of August. The company has an expected earnings growth rate of 11.1% for the current year.
Moderna Inc. (MRNA - Free Report) is in the process to developing mRNA vaccine against COVID-19. The Zacks Rank #2 company has initiated an open-label Phase I clinical trial to test mRNA-1273 as a vaccine for COVID-19 in the United States. It aims to enrol 45 healthy adult patients, between the ages of 18 and 55 years for clinical trial. The study is expected to conclude by Jun 1, 2021. The company has an expected earnings growth rate of 2.6% for the current year.
Sanofi (SNY - Free Report) is testing a preclinical vaccine candidate for COVID-19 using its recombinant DNA platform. The Zacks Rank #2 announced a separate program to develop a mRNA vaccine for COVID-19. It is likely to commence Phase 1 clinical trial between March 2021 and August 2021. The company has an expected earnings growth rate of 4.5% for the current year.
Vaxart Inc. (VXRT - Free Report) has five vaccine candidates for the treatment of COVID-19 in preclinical testing. The Zacks Rank #2 company plans to start a Phase 1 clinical trial in the second half of 2020 in the United States. The clinical-stage company is one of the pioneers in developing vaccine for COVID-19. The company has an expected earnings growth rate of 97.7% for the current year.
Eli Lilly and Co. (LLY - Free Report) will study its drug baricitinib as an arm in the National Institute of Allergy and Infectious Diseases' Adaptive COVID-19 Treatment Trial. The Zacks Rank #2 will advance LY3127804 to Phase 2 testing in pneumonia patients hospitalized with COVID-19 who are at a higher risk of progressing to acute respiratory distress syndrome. The company has an expected earnings growth rate of 12.1% for the current year.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>