U.S. equities continue to play the see-saw game, oscillating around the 27,000 level as investors deal with everything from the flow of third quarter earnings to the never-ending daily drama surrounding U.S.-China trade talks.
But amid the cross-currants, key sectors are showing signs of life. Healthcare in particular is one such sector, with a number of large-cap biotechnology and pharmaceutical stocks enjoying fresh rallies.
Here are five healthcare stocks to buy worth a look:
Biogen (NASDAQ:BIIB) shares are surging nearly 30% higher on Tuesday morning thanks to better-than-expected quarterly numbers. Earnings of $9.17 per share beat estimates of $8.22 on revenue of $3.6 billion vs. the $3.5 billion that was expected.
The focus was on Spinraza, used for treating spinal muscular atrophy, which continued its strong performance outside the United States. Management is also looking ahead to the launch of Vumerity, which will be a contender in the fight against multiple sclerosis.
Vertex Pharmaceuticals (VRTX)
Shares of Vertex (NASDAQ:VRTX) look ready to break up and out of their two-year trading range with a move towards the $200-a-share level. Buyers are coming in after the Food and Drug Administration approved Trikafta in people ages 12 and older suffering from cystic fibrosis. Management raised forward guidance in response.
The company will next report results on Oct. 30 after the close. Analysts are looking for earnings of $1.13 per share on revenues of $942.9 million.
Shares of Celgene (NASDAQ:CELG) are rallying nearly 3% higher breaking up and out of a four-month uptrend channel. This pushes the stock above its 200-week moving average for the first time since late 2017, and potentially traces the end of a massive inverse head-and-shoulders reversal pattern that targets a rally above prior highs set two years ago.
The company will next report results on Oct. 31. Analysts are looking for earnings of $2.70 per share on revenues of $4.4 billion.
Bristol Myers Squibb (BMY)
Bristol Meyers Squibb (NYSE:BMY) stock rose more than 5% on Tuesday morning, returning to highs last tested in 2018, marking a 33% rise off of the lows set in July. Coverage on the stock was recently resumed by Bank of America Merrill Lynch analysts with a buy rating and a $60 price target.
The company will next report results on Oct. 31 before the bell. Analysts are looking for earnings of $1.07 per share one revenues of $5.9 billion.
Eli Lilly (LLY)
Shares of Eli Lilly (NYSE:LLY) are in turnaround mode, but look ready for a move up and over their 200-day moving average — a level that has kept a lid on the bulls since June. A breakout here would target a return to the prior high set in March, which would be worth a gain of nearly 20% from here.
The company will next report results on Oct. 23 before the bell. Analysts are looking for earnings of $1.41 per share on revenues of $5.5 billion. Coverage was also recently resumed on the name by analysts at Bank of America Merrill Lynch, who are looking for a price target of $133.