3 Healthcare Stocks Working Aggressively on Coronavirus Vaccine

The coronavirus pandemic has been not only resulted in an economic crisis on...

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The coronavirus pandemic has been not only resulted in an economic crisis on a global level, but it has also sent the markets into a tailspin. Almost all stocks across the board have seen deep declines in recent days; however, there are some stocks in the healthcare sector that have shown promise. There are some healthcare stocks that are involved in developing products meant for tackling the coronavirus, and it could be worthwhile for investors to keep an eye on these stocks. Here is a closer look at three healthcare stocks fighting the coronavirus that could be tracked at this point.

Kiniksa Pharmaceuticals Ltd. (KNSA)

One of the healthcare stocks that could be tracked at this point is that of Kiniksa Pharmaceuticals Ltd. (KNSA). Recently, it emerged that the company’s anti-GM-CSFRα antibody product named mavrilimumab was used to treat six patients suffering from coronavirus as part of a study. The study in question was conducted at the San Raffaele University in Italy.

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David Nierengartne, who is an analyst at Wedbush that the symptoms tackled by the product, is similar to the ones that are consistent with coronavirus, and the firm also gave the stock an outperform rating. Wedbush set the target price for the Kiniksa stock at $30 in 12 months and represents an upside of as much as 68%. In addition to that, it should be noted that there is a total of 3 buy recommendations for the stock, and that is a 100% strike rate for Kiniska. 

CytoDyn, Inc. (CYDY)

The other healthcare stock that could be worth adding to the watch list at this point in time is that of CytoDyn, Inc. (CYDY). The company is involved in developing a product named Leronlimab, which can be used to treat a wide range of ailments like metastatic cancer, multiple sclerosis, and Parkinson’s disease, among others. However, there is the possibility of the product being used to treat coronavirus as well, and hence, the CytoDyn stock has jumped by as much as 179% this year so far. 

Yi Chen, who is an analyst at Wainwright, stated that due to the rising number of cases in New York and elsewhere in the United States, there is a possibility of Leronlimab getting fast track approval for the FDA to treat coronavirus. The probability of getting approval has been set at 35%. Chen gave a buy rating and also upped the target price to $3 from $1.5. 

BioNTech SE (BNTX)

Last but not least, investors could also consider having a look at the BioNTech SE (BNTX) stock. The company, which is involved in creating customized cancer treatments, recently launched a program to create a coronavirus vaccine. That has resulted in a rally of 56% in the BioNTech stock in 2020 so far. 

Analyst Arlinda Lee of Canaccord stated that the company’s tie-up with China’s Fosun and Pfizer to develop the vaccine is a significant development. Analysts seem to be divided regarding their position on the stock. Three analysts have given a hold rating, while three others have placed a buy rating on the BioNTech stock. The target price average of $38.40 actually represents a decline of 27%.

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