Feb 24, 2021 (StockMarket.com via COMTEX) -- Looking For The Top Biotech Stocks To Buy In February?
Any investors worth their salt can tell you that biotech stocks are among the top performers on the stock market today . Whether it is explosive gains within a day or long-term gains, the industry has benefitted investors. Right now, as we enter another intense earnings week, some of the top biotech stocks are releasing their financials. For most biotech investors, it is a great time to see how the big players in the field have performed throughout the fiscal year.
To highlight, vaccine superstar Pfizer ( NYSE: PFE ) will be posting its fourth-quarter fiscal tomorrow. As the coronavirus pandemic continues to ravage the world, investors could be eager to hear what the company has in store for 2021. Additionally, leading HIV treatment developer Gilead Sciences ( NASDAQ: GILD ) is also reporting its earnings on Thursday. Even amidst earnings season, the company continues to innovate in the field as it announced a collaboration with Gritstone Oncology ( NASDAQ: GRTS ) earlier today. If anything, this speaks to the constantly evolving nature of biotech. As a result, eagle-eyed investors will likely be on the lookout for the best biotech stocks this week. With that in mind, here are four biotech giants in focus right now.
Top Biotech Stocks To Buy [Or Sell] This Week
Vertex Pharmaceuticals Inc. ( NASDAQ: VRTX )
Bio-Techne Corporation ( NASDAQ: TECH )
PerkinElmer Inc. ( NYSE: PKI )
AbbVie Inc. ( NYSE: ABBV )
Vertex Pharmaceuticals Inc.
First up is global biotech firm Vertex. The company specializes in the development of medicines for people with serious diseases. Its development pipeline consists of treatments for cystic fibrosis (CF), pain, sickle cell disease, and Type 1 Diabetes (T1D). Admittedly, VRTX stock has been trading sideways over the past year. Could its upcoming fourth-quarter earnings call after today's market close change that? Well, analysts appear to think so.
General estimates suggest that Vertex could be looking at a profit of $2.55 per share for the quarter. This would mark an incredible 50% leap year-over-year. Adding to that, Wall Street is forecasting a 12% growth in revenue to the tune of $1.58 billion. Impressively, equity analysts at Cowen ( NASDAQ: COWN ) commented, "We expect the current dislocation between Vertex Pharmaceuticals' (VRTX) trading price and the value of its CF franchise to be only temporary. We would use the recent stock weakness to build a position." With all this in mind, investors may be wondering if it is a good time to buy on the dip.
Last week, Vertex received two FDA regulatory updates regarding its child CF and T1D projects. Should the company see another strong quarter, could VRTX stock return to its pre-pandemic heights? You tell me.
Bio-Techne is another top biotech company to watch this week. The Minnesota-based global life science company specializes in providing clinical tools and bioactive reagents. The company does so for the fields of research and clinical diagnostics with its portfolio of over 500,000 products. With TECH stock doubling in value since the March lows, investors could be curious to see if it has more room to grow moving forward.
For starters, Bio-Techne is slated to post its second-quarter fiscal before the market opens tomorrow. Given it reported a solid first quarter back in November, should investors be excited about TECH stock? Well, Bio-Techne saw green across the board in its last quarter. It saw year-over-year jumps of 124% in earnings per share and 131% in net income. CEO Chuck Kummeth summarized, "Achieving over 10% organic growth, including strong results from our key growth platforms, shows the strength of our diverse portfolio of tools that researchers are turning to in all aspects of life sciences research."