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Healthcare has always been among the significant sectors in the equities market, but the COVID-19 pandemic has pushed its importance even higher. With the continuing rise of telehealth services, ongoing vaccine rollouts and new COVID treatments being tested regularly, the sector could rise further this year and investors may want to keep their eye on it.
The S&P 500 Healthcare Index grew about 10 per cent year-to-date (YTD), while the Nasdaq Health Care Index climbed 22 per cent in the past year.
That said, let's explore two trending healthcare stocks trading in the North American markets.
vTv Therapeutics Inc. (NASDAQ:VTVT, VTVT:US)
Operating in the US, the biotechnology company is involved in developing drugs for the treatment of illnesses such as Alzheimer's disease and cancer.
Stocks of vTv Therapeutics hit the trending charts on Tuesday, June 22, as it noted a jump of about 15 per cent at opening bell, trading at US$ 2.71 apiece (10:30AM EST).
The surge came after vTv announced that it has entered an agreement with biotech firm Cantex Pharmaceuticals to obtain the rights to develop Azeliragon, a drug that can be used for the treatment of cancer.
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VTVT stock has surged about 27 per cent YTD to outperform the NASDAQ Composite Index's growth of 15.6 per cent in the same period. The stock also expanded by 31 per cent in the last six months.
On the financial front, vTv's cash and cash equivalents (CCE) grew to US$ 8.4 million in Q1 2021, up from US$ 5.7 million in Q4 2020.
Intec Pharma Ltd. (NASDAQ:NTEC, NTEC:US)
Amid a well-performing healthcare sector, NTEC stock has also noted a rise. The Israel-based pharma company saw its stock return about 14 per cent to shareholders in the past week.
Intec Pharma, a development-stage biopharma company, posted an average trading volume of 2.3 million in the last 10 days.
On Tuesday, NTEC stock climbed about three per cent to trade at US$ 4.24 apiece (10:45AM EST).
Intec Pharma recorded a net loss of US$ 4.2 million in the first quarter of 2021. Its cash and cash equivalents, on the other hand, rose to US$ 11.13 million in Q1 2020, up from US$ 10.9 million in Q4 2020.
The above constitutes a preliminary view and any interest in stocks should be evaluated further from investment point of view.
