Despite polls showing most Americans are unhappy with the state of the economy, President Biden has defended his policies with claims he is improving the finances and living standards of minority voters. This commitment to economic inclusivity bodes well for overall economic health and long-term growth. As policies prioritize equitable access to resources such as healthcare, the increased consumer base can stimulate demand across industries. In particular, biotech stands to benefit as advancements in medical research align with a growing emphasis on health and wellness. These all contribute to a more resilient economy, and these top biotech stock picks are valuable investments to add to your portfolio.
AbbVie Incorporated (ABBV)
AbbVie Incorporated (NYSE:ABBV) is an American pharmaceutical company that is recognized as a biotech industry leader.
The company’s major successes in clinical trials and obtaining government approvals for medications have positioned itself for revenue growth and global expansion. AbbVie and Genmab (NASDAQ:GMAB) have achieved positive clinical trial results for a Follicular Lymphoma treatment. Future meetings with global authorities could poise the treatment for global approval. Given the limited Follicular Lymphoma treatments available, the drug has market-disrupting potential.
Recently, Abbvie has also secured MHRA approval in the U.K. for RYNVOQ, a drug for Crohn’s disease. The U.S. Food and Drug Administration (FDA) has also granted expanded indication approval for Qulpta, Abbvie’s migraine-focused drug, broadening Abbvie’s U.S. market.
ABBV is one of the top biotech stock picks that you don’t want to miss out on.
Intellia Therapeutics (NTLA)
Intellia Therapeutics (NASDAQ:NTLA) is a clinical-stage biotechnology company specializing in gene editing therapies. The company’s advantage over competitors is its ongoing clinical trials on potential cures for transthyretin amyloidosis (ATTR) and Hereditary Angioedema.
Although Intellia’s net operating cash flow has decreased by 49.78% year-over-year, company sales are growing faster than the sector, with sales increasing by 57.69% in 2022. Additionally, gross income growth has increased by 70.28%, a strong indicator of profitability. Supported by the strong financials, NTLA stock is up 9.5% year-to-date. And, analysts are giving the stock a buy rating, with a target price of $83.71.
Intellia’s key catalyst is its phase 1 and 2 treatments of ATTR and hereditary angioedema. CRISPR, a powerful genome editing system, is Intellia’s key tool which allows the company to have approaches to treat both genetic and autoimmune diseases. For investors interested in growing biotech stocks, NTLA is a must-buy because of its upcoming treatments for genetic diseases which use the most modern technologies available.
Vertex Pharmaceuticals (VRTX)
Vertex Pharmaceuticals (NASDAQ:VRTX) is a global biotechnology company that invests in scientific innovation to create transformative medicines for people with life-threatening diseases. Vertex is known for its various FDA-approved medicines that treat cystic fibrosis, a rare genetic disease.
Customers are regularly taking medicine to prevent diseases, and this benefits Vertex perfectly. The drug manufacturer is relentlessly finding new therapies and cures. Vertex has multiple late stage trials in its pipeline including therapies for transfusion-dependent beta-thalassemia and sickle cell disease. These could further see FDA approval in a couple of years. Vertex is a major player in the pharmaceutical industry and its cutting-edge technology will continue to add growth for the company.
On the date of publication, Michael Que did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
The researchers contributing to this article did not hold (either directly or indirectly) any positions in the securities mentioned in this article.