GSK and VIR: Two rising healthcare stocks to explore

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GSK and VIR: Two rising healthcare stocks to explore

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 GSK and VIR: Two rising healthcare stocks to explore
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Highlights

  • An early-stage study showed that GSK and VIR's Covid-19 treatment is effective against the Omicron variant.

  • Sotrovimab showed effective results against all 37 mutations in the spike protein of Omicron.

  • The GSK stock surged over 10% YTD.

GlaxoSmithKline PLC (NYSE: GSK) and Vir Biotechnology, Inc. (NASDAQ: VIR) stocks were trending on Wall Street Tuesday after their covid drug was found effective against Omicron.

An early-stage study showed the covid drug Sotrovimab was effective against all 37 mutations in the spike protein of Omicron, the Brentford, UK-based GlaxoSmithKline said in a statement. Earlier pre-clinical data also had shown positive results against key Omicron mutations.

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GlaxoSmithKline (GSK) and Vir Biotechnology (VIR) stocks were trending after their Covid-19 treatment showed positive results against the virus

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GlaxoSmithKline PLC (GSK)

GSK stocks were up 0.67% to US$42.0399 at 8:41 am ET on December 7. Its stock value surged 10.65% YTD. The firm has a market cap of US$105.06 billion and an EPS of US$2.36.

The 52-week highest and lowest stock prices were US$43.61 and US$33.53, respectively. Its trading volume was 3,095,473. The company's net sales surged 10% YoY to £9.07 billion in Q3, FY21. It reported adjusted earnings of 36.6p (UK pence) per share.

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Vir Biotechnology, Inc. (NASDAQ: VIR)

Vir Biotechnology is an immunology firm that specializes in infectious diseases.

VIR stocks were priced at US$39.40 at 9:16 am ET on December 7, up 2.63% from their previous closing price. Its market cap is US$5.02 billion, and its EPS is US$-0.87.

The stock's 52-week highest and lowest prices were US$141.01 and US$25.31, respectively. Its trading volume on December 7 was 1,700,895. The firm reported total revenue of US$103.6 million in Q3, FY21, compared to US$1.9 million in the year-ago quarter.

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Bottomline

The S&P 500 healthcare sector surged 15.20% YTD while increasing 2.78% QTD. The pre-clinical data from the study of Sotrovimab demonstrate the drug’s potential against the Omicron variant. Healthcare companies, mainly those engaged in covid drug production, have been the top beneficiaries of the growth witnessed in the sector this year.

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