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Summary
- The healthcare sector is poised for tremendous growth in the future.
- Investing in healthcare stocks at the right time may provide investors with long-term gains.
- The biopharma industry is likely to boom due with increasing innovations.
The coronavirus pandemic put the spotlight on the healthcare sector and this space will likely see a lot of growth in the coming years. Market experts believe that countries and companies will improve their existing systems and infrastructure to be better prepared for the future.
On that note, we are exploring two upcoming stocks in the biotechnology sector from North American markets as scientific advancements pave a new path for treatments and emancipate serious diseases. Both these biopharmaceutical stocks also seem to have long-term returns potential.
Scopus BioPharma Inc. (NASDAQ:SCPS, SCPS:US)
Stocks of this biopharma firm jumped 71 per cent during the trading session on Monday, May 24, to close at US$ 10.25. The spike came after Scopus announced approval of a new drug application by the United States Food and Drug Administration (FDA).
The approval was for 'CpG-STAT3siRNA', an immuno-oncology RNA therapy, which can be used to cure multiple cancers.
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In the last one month, the stock surged by 35.6 per cent and its quarter-to-date (QTD) growth sits at 21 per cent. Upon market close on May 24, the shares were 99 per cent up from a 52-week low of US$ 5.13 (May 13, 2021).
In the first quarter of 2021, the company displayed a strong balance sheet as its cash and cash equivalents increased to US$ 8.3 million from US$ 4.8 million in Q1 2020.
Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH / TSX:AUP)
Holding a debt-to-equity ratio of 0.02, Aurinia Pharmaceuticals' market cap is worth C$ 2 billion, as per TMX data. The pharma company develops products for people suffering from serious diseases, such as lupus nephritis. It is gaining investors' attention after announcing the trial results and efficacy of its products 'AURORA 2', a study on Lupkynis in lupus nephritis, which will be presented to European Alliance of Associations for Rheumatology (EULAR) Congress in June 2021.
Aurinia has said that it will soon present details from a continuation study on Aurora 2, that will demonstrate its safety and efficacy in the treatment of patients with Lupus Nephritis. The stock climbed by nine per cent in the past week and its one-month growth is 1.2 per cent.
The scrips were priced at C$ 15.74 apiece at market close on Friday, May 21, available at 39 per cent less than the 52-week high of C$ 26 on January 25, 2021.
Recently, the company released the earnings report for the first quarter in which its revenues were US$ 918,000, up from US$ 30,000 in the first quarter of 2020. In the same period, the total current assets valued at US$ 372.2 million.
The above constitutes a preliminary view and any interest in stocks should be evaluated further from an investment point of view.
