Biotech Stocks Take a Hit After Trump’s Announcement
The biotech industry has been reeling since President-elect Donald Trump tapped Robert F. Kennedy Jr. to lead the Department of Health and Human Services. Kennedy’s stance on vaccines and weight-loss drugs has raised concerns among investors, leading to a decline in biotech stocks.
A Mixed Bag for Biotech
While some biotech stocks have taken a beating, others have seen a surge in interest. Companies focused on psychedelics, for instance, have seen their stocks jump. The 735-company Medical-Biomed/Biotech industry group collectively tumbled 4% on November 15, following Trump’s announcement.
Top Biotech Stocks to Watch
Despite the uncertainty, some biotech stocks are still worth keeping an eye on. Ligand Pharmaceuticals, for example, has been investing in royalty deals and boasts over 100 partnered commercial and development-stage programs. The company recently acquired Apeiron Biologics for $100 million, adding to its commercial-stage portfolio.
Exelixis: A Cancer Treatment Specialist
Exelixis is another biotech stock that has made a name for itself as a cancer treatment specialist. The company sells Cabometyx, a treatment for several forms of kidney, liver, and thyroid cancer. In the September quarter, Exelixis earned 40 cents per share and reported $539.5 million in sales, beating expectations.
Catalyst Pharmaceuticals: Licensing Treatments for Rare Diseases
Catalyst Pharmaceuticals licenses already or soon-to-be approved treatments for rare diseases and diseases of the central nervous system. The company has three products, including Firdapse, which treats a neuromuscular condition often affecting small cell lung cancer patients.
Corcept Therapeutics: A Broad Pipeline of Treatments
Corcept Therapeutics has a broad pipeline of treatments in testing for Cushing syndrome, cancer, neurological diseases, addiction, and psychiatry. The company is best known for Korlym, a treatment for patients with Cushing syndrome who also have type 2 diabetes.
United Therapeutics: A Top-Rated Biotech Stock
United Therapeutics makes a handful of drugs for chronic diseases, including Tyvaso, a treatment for pulmonary arterial hypertension (PAH). During the third quarter, Tyvaso sales ramped 33% to $433.8 million, beating expectations.
What’s Next for Biotech Stocks?
As the biotech industry continues to navigate the uncertainty surrounding Kennedy’s appointment, investors will be keeping a close eye on these top biotech stocks. With their strong fundamentals and promising pipelines, they may be worth considering for those looking to invest in the biotech sector.
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