The 3 Best Biotech Stocks to Buy Now: Q2 Edition

InvestorPlace04-17

Here are some of the top biotech stocks to buy now. Agios Pharmaceuticals (AGIO): Analysts at Cantor Fitzgerald reiterated an overweight rating on the AGIO stock. Amgen (AMGN): The company expects to ...

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At the moment, it can take10 years, and upwards of $2 billionto develop a new drug.Plus, designing new drugs isn’t easy.Analysts atCantor Fitzgerald reiterated an overweight rating on the AGIO stock. In addition, at the end of 2023, some of the top hedge funds either opened or added to their positions in AGIO. That included Ken Griffin’s Citadel Advisors, which increased its stake in AGIO by nearly 158%. Paul Tudor Jo","collect":0,"end_time":0,"defaultTopTitle":"investorplace.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU2098885051.SGD":"JPMorgan Funds - Multi-Manager Alternatives A (acc) SGD","LU2458330169.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A\" (SGD) ACC","BK4588":"碎股","LU2458330243.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A-H1\" (SGDHDG) ACC","BK4141":"半导体产品","AMGN":"安进",".IXIC":"NASDAQ Composite","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","TQQQ":"纳指三倍做多ETF","LU1023059063.AUD":"BGF WORLD HEALTHSCIENCE \"A2\" (AUDHDG) ACC","LU2242646821.SGD":"Fidelity Global Dividend Plus A-MINCOME(G)-SGD","LU0082616367.USD":"摩根大通美国科技A（dist）","LU0056508442.USD":"贝莱德世界科技基金A2","LU0289739699.SGD":"AB INTERNATIONAL HEALTH CARE PORTFOLIO \"A\" (SGD) ACC","QLD":"纳指两倍做多ETF","PSQ":"纳指反向ETF","LU1803068979.SGD":"FTIF - Franklin Technology A (acc) SGD-H1","LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC","BK4573":"虚拟现实","QQQ":"纳指100ETF","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","IE00BMPRXR70.SGD":"Neuberger Berman 5G Connectivity A Acc SGD-H","LU0109394709.USD":"富兰克林生物科技新领域基金A (acc)","BK4581":"高盛持仓","IE00BMPRXN33.USD":"NEUBERGER BERMAN 5G CONNECTIVITY \"A\" (USD) ACC","LU0109392836.USD":"富兰克林科技股A","QID":"纳指两倍做空ETF","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","BK4529":"IDC概念","LU2242652126.USD":"FIDELITY FUNDS GLOBAL DIVIDENDS PLUS \"A\" (USD) INC","SQQQ":"纳指三倍做空ETF","LU0979878070.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"A\" (USD) ACC","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","GFS":"GLOBALFOUNDRIES Inc.","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","BK4585":"ETF&股票定投概念","AGIO":"Agios Pharmaceuticals, Inc.","BK4139":"生物科技","SG9999001440.SGD":"United Global Dividend Equity Fund A SGD Dist","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU0889565916.HKD":"FRANKLIN BIOTECHNOLOGY DISCOVERY \"A\" (HKD) ACC","BK4566":"资本集团","BK4575":"芯片概念","LU1303367103.USD":"摩根大通多经理另类基金 A (acc)","OCUL":"Ocular Therapeutix","AMD":"美国超微公司"},"translate_title":"现在购买的3只最佳生物技术股：Q2版","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AGIO":1,"AMGN":1,"OCUL":1,"AMD":0.9,"GFS":0.8,"TQQQ":0.6,"PSQ":0.6,"QID":0.6,"QLD":0.6,"QQQ":0.6,"SQQQ":0.6,".IXIC":0.6,"MNQmain":0.6,"NQmain":0.6},"content_text":"Here are some of the top biotech stocks to buy now.\nAgios Pharmaceuticals (AGIO): Analysts at Cantor Fitzgerald reiterated an overweight rating on the AGIO stock.\nAmgen (AMGN): The company expects to release Phase 2 data on its obesity treatment, MariTide later this year.\nOcular Therapeutix (OCUL): Its axitinib intravitreal implant, also known as OTX-TKI is in Phase 3 trials for the treatment of wet AMD.\n\n\n\n\n\n \n\nSource: Gorodenkoff / Shutterstock.com\n\n\n\nSome of the hottest opportunities can be found in biotech stocks to buy now.\nWith innovation, mergers and acquisitions, major companies looking to replenish their pipelines ahead of patent expirations, treatments for obesity, aging baby boomers, and demand for better care are creating massive opportunities. We’re even seeing big opportunities in cancer treatments known as ADCs (antibody-drug conjugates), and in gene-editing.\nWe can even look at the impact artificial intelligence could have on healthcare.  Look at drug discovery, for example. At the moment, it can take 10 years, and upwards of $2 billion to develop a new drug. Plus, designing new drugs isn’t easy.  \nWhen creating a new drug, you need to identify a molecule that balances a large number of anti-correlated properties, including potency, selectivity, solubility, bioavailability, clearance/ half-life, permeability, drug interactions, and synthesizability. Even then, drug development has a high failure rate of 90% — which is ridiculously high. However, with artificial intelligence the rate of failure could drop, and the design of new drugs could become far easier.  \nIn short, there’s a lot to get excited about with biotech – especially with biotech stocks like:\nAgios Pharmaceuticals (AGIO)\nSource: shutterstock.com/ChampheiAgios Pharmaceuticals (NASDAQ:AGIO) is a leader in PK (mutant pyruvate kinase) activation and is dedicated to developing and delivering transformative therapies for patients living with rare diseases, such as non-transfusion-dependent thalassemia, and sickle cell disease.\nThe company recently posted positive data for its pipeline of PK (mutant pyruvate kinase) activators for the treatment of non-transfusion-dependent thalassemia, sickle cell disease and clinical proof-of-concept in lower-risk MDS (myelodysplastic syndromes). It also expects to post data from a Phase 3 study of mitapivat in transfusion-dependent thalassemia, with a potential launch by 2025. All of which could be substantial upside catalysts for AGIO.\nAnalysts at Cantor Fitzgerald reiterated an overweight rating on the AGIO stock. In addition, at the end of 2023, some of the top hedge funds either opened or added to their positions in AGIO. That included Ken Griffin’s Citadel Advisors, which increased its stake in AGIO by nearly 158%. Paul Tudor Jones’ Tudor Investment also picked up 27,900 shares. \nAmgen (AMGN)\nSource: ShutterstockInvestors may also want to keep an eye on oversold shares of Amgen (NASDAQ:AMGN). After diving from about $327.16 to a recent low of $265.51, it caught support dating back to late 2023. From here, I’d like to see it initially retest its prior high. Helping, there are a few key catalysts that could send Amgen higher. \nFor one, the company expects to release Phase 2 data on its obesity treatment, MariTide later this year. Early trials found that “AMG 133 demonstrated weight loss in cell-based systems and animal models while improving metabolic markers. Further, in a phase 1 clinical trial in obese participants, AMG 133 showed an acceptable safety profile and significant, dose-dependent weight loss,” as noted by News-Medical.net.\nAmgen also expects to release its Tezspire Phase 2 data in the first half of the year for the treatment of chronic obstructive pulmonary disease. It also expects to posted Phase 3 data this year on AMG 451 OX-40 for the treatment of atopic dermatitis.\nOcular Therapeutix (OCUL)\nSource: Mongkolchon Akesin / Shutterstock.comWe can also look at Ocular Therapeutix (NASDAQ:OCUL), which is developing therapies for wet age-related macular degeneration (wet AMD), diabetic retinopathy, and other diseases and conditions of the eye. Its axitinib intravitreal implant, also known as OTX-TKI is in Phase 3 trials for the treatment of wet AMD.\n“I believe the Company has made outstanding progress over the last several months, with the initiation of the Phase 3 SOL-1 study with AXPAXLI in wet AMD and successful financings that raised more than $440 million in gross proceeds from existing and new top tier health care investors,” added Pravin Dugel, MD, Executive Chairman of Ocular Therapeutix.\nAt the moment, some of its other treatments in various trials include Axpaxli for diabetic retinopathy (Phase 1-2 trials), Paxtrava for glaucoma and ocular hypertension (Phase 1-2 trials), OTX-DED for episodic dry eye disease (Phase 1-2 trials), and OTX-CSI for dry eye disease (Phase 1-2 trials).  \nOn the date of publication, Ian Cooper did not hold (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.\nIan Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.Biotech, HealthcareGrowth Stocks\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSubmit\n\n\n\n\n\n\n\nArticle printed from InvestorPlace Media, https://investorplace.com/2024/04/the-3-best-biotech-stocks-to-buy-now-q2-edition/.\n©2024 InvestorPlace Media, LLC","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2428580095"}