Home Trending Stocks Two of the Best Pharmaceutical Stocks to Watch for in 2021

Two of the Best Pharmaceutical Stocks to Watch for in 2021

Pharmaceutical stocks must be in investors’ heads due to their increased significance in the global pandemic. Let’s find out the pharma stocks that hold the most upside potential.

The pharmaceutical industry makes an annual sale of over $1.2 trillion. The industry is already stable and has a huge market base. The COVID-19 pandemic has given a strong push to an industry which already evolving with advanced technology. Everyone’s attention is on pharma firms for developing coronavirus vaccine.


The 2021 Backdoor Crypto Portfolio (free)

Even if you’re not actively in crypto, you deserve to know what’s actually going on...

Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.

Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free.

Sponsored


We have a vast range of pharmaceutical stocks with great upside potential. So, let’s find out the top 2 pharmaceutical stocks for investment as 2021 is on the verge.

AbbVie (ABBV)

AbbVie (ABBV) is one of the leading pharma in the market today. A company with a market cap of $183 billion is surely one stock to consider while heading into 2021.

Lately, AbbVie has been facing a few problems. Especially, after losing a patient in Europe from its lead candidate Humira. However, the company has a vast portfolio that deals with fast-growing products, including anti-inflammatory drugs Rinvoq and Skyrizi and cancer drugs Imbruvica and Venclexta.

More than 20 programs are under Phase 3 trials showing strong progress in business segments. One of the medicines includes a promising late-stage candidate for treating Parkinson’s disease. So, the promise is there, now let’s see what do analysts say about the stock?

Almost 20 of the Wall Street analysts see ABBV stock with a median price target of $118.50, while a high forecast of $135 and a low forecast of $97. This shows a median estimate of +14% from the closing price of $104.46 on Friday. This price forecast is for the next 12-month period, showing a bullish momentum in the long-term run.

The current consensus among 23 investment analysts rates the ABBV stock as a buy. So, keep an eye on AbbVie going into the new year.

Biogen (BIIB)

Biogen (BIIB) focuses on the innovation, development, and commercialization of pharmaceutical treatments. The core focus of the company remains on neurology, oncology, and immunology.

Biogen stock has had a wild year so far. The stock soared up to 44% when the FDA representatives seem to endorse Biogen’s potential candidate for Alzheimer’s drug aducanumab. However, the FDA later reported that it lags some of the key aspects and Biogen needs to review its candidate. The stock went into a downward trend following that.

Biogen’s majority of the revenue comes from multiple sclerosis (MS) drugs, which treat neurological disorders. The annual revenue from MS drugs equals up to $14.3 billion. However, things didn’t go the right way as MS revenue dropped over 1% for the first 9-months of 2020. But does this mean to go past BIIB stock?

Recently, Biogen has been involved in quite healthy collaborations which include Denali Therapeutics and Scribe Therapeutics. The Denali deal was based on the treatment for Parkinson’s disease, while Scribe’s partnership was to develop CRISPR-based medicines.

Moreover, the company also announced a $1.5 billion investment in Sage Therapeutics in November 2020. This investment involves the development of depression drug zuranolone.

Looking into the broader perspective, the stock can be a good buy as the long-term progress will help the $38 billion company to rise again. Also, the short-term momentum is bullish. So, why not betting on a downward stock that has long-term potential.

Wall Street analysts rate the stock as a hold upon consensus estimate. 13 of the analysts see it as a buy, while 15 of them rate it as a hold and 3 as a sell. So, keep following Biogen, it can be a profitable bet going forward.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

Why Is BTZI Stock Increasing Today?

The stock price of BOTS, Inc. (OTCPink: BTZI) has been rising more than 7% today and was buoying at $0.1266 at the last check....

Why Has The KBSF Stock Price Gained 10% In Last Session?

As of Friday's normal trading session, the price of KBS Fashion Group Limited (NASDAQ: KBSF) rose $0.26 or 9.96% to conclude at $2.87. KBS...

Why Royal Bank of Canada (RY) stock plummeted in after-hours on Friday?

Royal Bank of Canada (RY) stock lost 64.36% in the extended hour trading session on Friday, April 16, 2021. The RY stock gained merely...

Why Did The CMCL Stock Rise By 8% In Last Trading?

Caledonia Mining Corporation Plc (NYSE: CMCL) gained 8.91% during the trading session on Thursday. The share price reached a low of $13.70 and a...

Why Progyny Inc (PGNY) stock gained on Thursday, April 15?

Progyny Inc (PGNY) stock gained 7.31% in the after-hours session on Thursday, April 15, 2021, after it gained 0.94% in the early session.  PGNY...

Is This Why The APLD Stock Skyrocketed Last Trading?

Applied Science Products, Inc. (OTCPK: APLD) closed at $0.635 and experienced a 215.92% increase on Friday. A total of 2.07M shares of Applied Science...

The CRSS Stock Increased 82% In The Last Session Due To What?

Stock of Crossroads Systems, Inc. (OTCQX: CRSS) gained 81.82% or $18.00 in Friday's trading session, closing the day at $40.00 a share. Crossroads Systems...

How Did The ZVO Stock Appreciate 9% In The Last Trading Session?

Zovio Inc (NASDAQ: ZVO) normally sees about 413.34K shares traded on a regular business day but on a Friday it saw a bit higher...

Related News

Why Is BTZI Stock Increasing Today?

The stock price of BOTS, Inc. (OTCPink: BTZI) has been rising more than 7% today and was buoying at $0.1266 at the last check....

Why Has The KBSF Stock Price Gained 10% In Last Session?

As of Friday's normal trading session, the price of KBS Fashion Group Limited (NASDAQ: KBSF) rose $0.26 or 9.96% to conclude at $2.87. KBS...

Why Royal Bank of Canada (RY) stock plummeted in after-hours on Friday?

Royal Bank of Canada (RY) stock lost 64.36% in the extended hour trading session on Friday, April 16, 2021. The RY stock gained merely...

Why Did The CMCL Stock Rise By 8% In Last Trading?

Caledonia Mining Corporation Plc (NYSE: CMCL) gained 8.91% during the trading session on Thursday. The share price reached a low of $13.70 and a...

Why Progyny Inc (PGNY) stock gained on Thursday, April 15?

Progyny Inc (PGNY) stock gained 7.31% in the after-hours session on Thursday, April 15, 2021, after it gained 0.94% in the early session.  PGNY...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.

Get The Best Stocks To Trade Every Day!...100% Free

We do not sell or share your information with anyone.

Get Best Morning Financial Newsletter... 100% Free

Best stocks ideas

Analysts’ Upgrades & Downgrades

Insider Watchlist

Important Earnings

We do not sell or share your information with anyone.