As the world awaits a vaccine for COVID-19, the top biotech stocks 2020 are in focus as companies like Amgen, Takeda, and AbbVie are working on treatments for hospitalized and severely ill COVID-19 patients. There are also reports manufactured antibodies could be the next big step in fighting the pandemic. Scientists are still working out how the antibodies can neutralize the virus and curb its infectivity. Among the biotech stocks to buy now is Amgen. The company’s research chief David Reese recently stated that his company is working on something that is complementary to primary lines of treatments. Regeneron is also testing a two-antibody cocktail.
The US government has recently cleared companies like Amgen, Eli Lilly, Astra Zeneca, and GlaxoSmithKline to pool their manufacturing capacities in order to scale up the production of any successful alternative treatments. Some of those companies are also among the top biotech stocks to buy now.
Amgen is trading close to its price at the start of 2020 and 31.54% up from its March lows. Astra Zeneca is up about 10% year-to-date and 46% from its March lows. Eli Lilly is up 13.5% from its January 2nd, 2020 price and 26% up from its March lows. Regeneron is the best of the lot, up 65% year-to-date and 42.5% up from its March lows.
Amgen is one of the biotech stocks to buy because it is the largest stand-alone biotech company. It is well-known for its kidney and cancer drugs. Amgen also markets blockbuster drugs in the immunology segment. The company has doubled its free cash flow over the past decade and maintained healthy gross margins of over 80%.
