Top Biotech Stock To WatchAfter hitting a six-year low in mid-June, biotech stocks seem to have regained their footing. Let's take a look at the top biotech stock to date.
Top Biotech Stock 2022
1) Amphastar Pharmaceuticals (AMPH)
Amphastar is the No. 1 biotech stock, leading an industry group of nearly 900 companies. Its biggest product is Primatene Mist, an over-the-counter asthma inhaler that temporarily relieves mild symptoms of intermittent asthma. In the first quarter, the inhaler brought in nearly $24.7 million in sales, growing 34% year over year.
2) Dynavax Technologies (DVAX)
Dynavax is a vaccine company. It makes a hepatitis B vaccine for adults called Heplisav-B. The company also makes a second vaccine that adds an adjuvant to Heplisav-B. Adjuvants are substances that boost the immune response of a vaccine.
Last quarter, the two products brought in $114 million in sales, surging 37% year over year. That was below more bullish views for $154.3 million, however, and the biotech stock toppled 6% on the report.
3) Vertex Pharmaceuticals (VRTX)
Vertex is one of the biggest biotech stocks in terms of market cap. It is also a Tech Leader. The company is the de facto leader of the cystic fibrosis drug market. Now it's expanding into other efforts. Vertex is partnered with Crispr Therapeutics (CRSP) on a gene-editing approach to a pair of blood diseases. Further, Vertex recently announced its $320 million plan to buy its partner in diabetes treatment, privately held ViaCyte. The companies are testing a cell replacement drug in type 1 diabetes.
4) Alkermes (ALKS)
Alkermes works in the neuropsychiatric segment. The company sells Vivitrol, a treatment for alcohol or drug dependence, and Aristada, a schizophrenia treatment. Its newest drug is Lybalvi, a treatment for bipolar 1 disorder and schizophrenia. The company aims to improve on older medicines with unwanted side effects. Lybalvi, for example, uses an older antipsychotic that causes weight gain. A second drug mitigates that side effect.
5) Corcept Therapeutics (CORT)
Biotech stock Corcept is gaining steam following the reversal of Roe v. Wade.
The company sells commercial treatment Korlym. Korlym treats Cushing's syndrome, a disorder in which the body makes too much of the hormone cortisol. That can lead to weight gain, a hump between the shoulders, easy bruising and weak muscles. The biotech stock recently broke out of a cup base with an entry at 25.78. Shares are now beyond the 5% chase zone. Corcept stock also has matching Composite and Relative Strength ratings of 98.
Another biotech stock worth monitoring for:
6) Regencell Bioscience Holdings (RGC)
Regencell Bioscience Holdings Ltd is a bioscience company that focuses on research, development and commercialization of traditional Chinese medicine (TCM) for the treatment of neurocognitive disorders and degeneration, specifically attention deficit and hyperactivity disorder (ADHD) and autism spectrum disorder (ASD). The Company launches three liquid based standardized TCM formulae candidates for mild, moderate and severe ADHD and ASD patients. The company made a stellar performance after its IPO and gained 223% since then.
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