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Highlights
- Vir Biotechnology, Inc. (NASDAQ:VIR) stock returned 56.96% YTD. VIR with GSK will supply 220,000 doses of Sotrovimab as per agreement with the European Commission.
- Heska Corporation (NASDAQ:HSKA) has a forward P/E for one year of 503.46. HSKA stock rose 80.49% YTD.
- BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) stock gave 115.97% YTD and closed at US$15.58 on Aug 11, 2021.
Mid-cap pharma companies have been performing well for some time. For example, the S&P 400 Mid Cap Index gave around 18.15% year-to-date, and the NASDAQ Biotech Index gave 10.19% YTD. Healthcare companies include pharmaceuticals, biotechnology, medical equipment, nursing and hospital management, medical specialties, and other related services.
Here we explore four pharma companies that led the upsurge on NASDAQ Biotech Index and the S&P 400 Mid Cap index.
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Vir Biotechnology, Inc. (NASDAQ:VIR) is an immunology company focused on treating and preventing infectious diseases.
Its market capitalization is US$5.4 billion.
For the second quarter ended June 30, 2021, Vir’s revenue was US$ 177 million, more than double from previous year revenue of US$ 66.99 million. The net income was US$ 61.81 million or US$ 0.46 per share diluted compared to the net loss of US$ 31.17 million or US$ 0.27 per share diluted.
On July 28, VIR and GlaxoSmithKline plc (NYSE:GSK) clinched a deal with the European Commission to supply 220,000 doses of Sotrovimab, a covid vaccine.
The stock closed at US$ 39.15 on Aug 11. It gave a return of 56.96% YTD.
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Source: Pixabay
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Heska Corporation (NASDAQ:HSKA) develops and sells veterinary products.
It has a market capitalization of US$ 2.79 billion and a forward P/E for one year of 503.46.
Its revenue for the June quarter was US$ 64.9 million compared o US$ 45.7 million in the previous year June quarter. The net loss incurred in this quarter was US$ 567 thousand or US$ 0.06 per share diluted compared to the net loss of US$ 6.36 million or US$ 0.72 per share diluted.
It has revised the 2021 outlook for revenue to be between US$ 250 million to US$ 260 million.
The stock closed at US$ 259.38 on Aug 11, 2021. HSKA stock rose 80.49% YTD.
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Myriad Genetics, Inc. (NASDAQ:MYGN) is a molecular diagnostics company. Myriad provides testing services for individuals to assess the risk of developing a disease.
Its market capitalization is US$ 2.6 billion.
For the June quarter of 2021, its revenue was US$ 189.4 compared to US$ 93.2 million in the same quarter the previous year. The net loss booked was US$ 4.7 million or US$ 0.06 per diluted share compared to the net loss of US$ 55.4 million or US$ 0.74 in the previous year June quarter.
The stock rose 70.52% YTD. It closed at US$ 32.48 on Aug 11, 2021.
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Source: Pixabay
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BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) is engaged in the research and development of novel small-molecule drugs to treat infectious and inflammatory diseases.
Its market capitalization is US$ 2.87 billion.
The revenue for the June quarter was US$ 49.96 million compared to US$ 2.87 million in the corresponding quarter of 2020. The net income was US$ 43.20 million or US$ 0.24 per diluted share compared to US$ 38.61 million or US$ 0.24 per diluted share in the June quarter of 2020.
On Aug 10, it announced to withdraw its proposed public offering in the wake of having a strong balance sheet with sufficient cash and equivalents and investments.
The Stock gave a 115.97% return YTD. It closed at US$ 15.58 on Aug 11, 2021.
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Bottomline
Healthcare stocks are likely to perform well in the current scenario; however, it depends on how strong they are in their cash positions and the sooner their products get approval & access to the market, the better their chance for growth would be.
