Top mid-cap pharma stocks powering the NASDAQ Biotech Index

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Top mid-cap pharma stocks powering the NASDAQ Biotech Index

 Top mid-cap pharma stocks powering the NASDAQ Biotech Index
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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.

5 Pharma Stocks Powering the NASDAQ Biotech Index

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. 

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