Three top U.S. biotech stocks to buy in April

By:
on Mar 28, 2024
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  • Morningstar strategist says Biotech industry has found its footing again.
  • Vertex, Neurocrine, and Moderna are three biotech stocks worth owning.
  • A brief explanation of what each of these biotech names have to offer.

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Biotech industry has found its footing again”, says Karen Andersen – a Morningstar strategist. Here are the top U.S. based stocks within this space that are particularly worth owning for 2024.

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Vertex Pharmaceuticals Inc (NASDAQ: VRTX)

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Vertex Pharmaceuticals makes up our list of top three U.S. biotech stocks for its strong pipeline. The $108 billion giant based out of Boston, Massachusetts also has rights to over half of the profits related to sales of exa-cel.

Exa-cel is a gene-editing therapy from Crispr Therapeutics that the Food & Drug Administration recently approved for sickle cell disease and transfusion-dependent beta thalassemia.

Sales of $VRTX drug Trikafta/Kaftrio for cystic fibrosis that secured expanded label last year have also been impressive, as per Argus Research analyst Jasper Hellweg.

He currently sees upside in Vertex Pharmaceuticals stock to $465 – a 12% upside from here.

Neurocrine Biosciences Inc (NASDAQ: NBIX)

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Neurocrine is another great pick in U.S. biotech stocks even though its seizure and depressions treatments have recently had a few setbacks.

Still, $NBIX is worth owning for Ingrezza – its widely known treatment for tardive dyskinesia that brought in $502 million in the fourth quarter; up a whopping 25% on a year-over-year basis.

On an adjusted basis, Neurocrine also saw its per-share earnings come in ahead of Street estimates in Q4. The California-based company’s treatment for CAH (congenital adrenal hyperplasia) received a designation of “breakthrough therapy” by the FDA in December.

Neuroscience stock is keeping above its 200-day MA and retook the 50-day as well earlier this month.

Moderna Inc (NASDAQ: MRNA)

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Moderna was one of the most notable beneficiaries of the COVID pandemic but its stock has struggled big time in the post-pandemic world.

But the biotech behemoth is now catching up – having announced positive clinical trial results for three of its experimental vaccines this week.

$MRNA is expected to offer insight into its post-pandemic strategic at its upcoming “Vaccines Day”. The Nasdaq-listed firm is committed to capitalising on the over $50 billion market for infectious disease shots with vaccines for latent viruses and respiratory diseases.

Putting it all together, the fact that Moderna shares are down 30% versus their 52-week high begin to spell “invest” now.

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