SPECIAL REPORT The Top 7 Stocks for 2024

3 Promising Biotech Stocks Flying Under the Radar

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  • These biotech stocks are making the most out of developing improvements for the health sector.
  • Biomarin (BMRN): BMRN is a biotech company dedicated to improving lives.
  • Exelixis (EXEL): EXEL is making waves with innovative cancer therapies.
  • Halozyme (HALO): HALO posted an impressive total revenue for Q3 2023.
under the radar Biotech Stocks - 3 Promising Biotech Stocks Flying Under the Radar

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Thanks to the biotechnology sector, the advances and improvement of processes within the health sector have been incredible. The impact with society and the contribution they make both directly and indirectly help our well-being. Here are three under the radar biotech stocks worth analyzing and adding to your portfolio.

BioMarin Pharmaceutical (BMRN)

Person holding smartphone with logo of U.S. company BioMarin Pharmaceutical Inc. (BMRN) on screen in front of website. Focus on phone display. Unmodified photo.
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BioMarin Pharmaceutical (NASDAQ:BMRN) is an exciting biotechnology company dedicated to improving lives through genetic discoveries. Its business focuses on the treatment of rare and serious diseases, particularly those with limited or no treatment.

It recently announced strong Q3 2023 results, showing continued profitability and significant revenue growth. This reflects its financial strength and potential for continued success. The adjustment of its 2023 forecast also demonstrates its confidence in its product portfolio.

One notable achievement is the U.S. Food and Drug Administration’s approval of VOXZOGO for pediatric patients with achondroplasia. This expanded approval means that children of all ages can benefit from this treatment. In another exciting development, ROCTAVIAN, a gene therapy, was successfully used in Europe for a patient with severe hemophilia A, marking an important milestone and demonstrating the global impact of BioMarin’s genetic discoveries.

Looking ahead, they estimate revenues of close to $3 billion in the full year 2024, highlighting their positive growth prospects. With these recent achievements and its promising outlook, BioMarin Pharmaceutical stands out as an attractive option for investors seeking opportunities in the biotechnology sector. Its commitment to transforming lives through genetic research is making a real difference in the world of healthcare.

Exelixis (EXEL)

The logo for Exelixis is displayed on a phone.
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Exelixis (NASDAQ:EXEL) is making waves in the healthcare sector as a promising stock option. It focuses on developing innovative therapies for various types of cancer, which has recently led to impressive financial results. In the third quarter of 2023, its total revenues reached $471.9 million, a significant increase over the previous year, driven primarily by higher sales volumes and pricing.

The company’s collaborative revenues, derived from partnerships with Ipsen (OTCMKTS:IPSEY) and Takeda Pharmaceutical (NYSE:TAK), contributed to this growth. Exelixis also invested heavily in research and development, which resulted in higher expenses but enabled progress in the development of its drug candidates. Selling, general and administrative expenses also saw an uptick due to personnel and legal costs.

Exelixis has garnered attention not only for its financial results, but also for its innovative clinical trials. In the pivotal Phase 3 CABINET trial, patients with tumors showed significant improvements in progression-free survival. In another trial, CONTACT-02, cabozantinib in combination with atezolizumab showed a statistically significant improvement in progression-free survival in patients with metastatic castration-resistant prostate cancer.

These achievements, combined with a consistent safety profile, make Exelixis an attractive biotech stock for potential investors seeking growth and innovation in the healthcare sector.

Halozyme Therapeutics (HALO)

Scientist using a microscope
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Halozyme Therapeutics (NASDAQ:HALO), is becoming a rising star in the healthcare sector, and here’s why. In Q3 2023, they posted an impressive total revenue of $216 million, driven by $114.4 million in royalty income. This strong financial performance is reflected in their GAAP diluted earnings per share of 61 cents. Notably, they have reaffirmed their revenue guidance for the full year 2023, indicating their potential for sustained growth and a positive outlook for investors.

What is really striking is Halozyme’s partnership with Acumen Pharmaceuticals (NASDAQ:ABOS). This partnership involves a non-exclusive license to Halozyme’s innovative ENHANZE drug delivery technology, designed for rapid subcutaneous drug delivery. Acumen is leveraging this technology for ACU193, a monoclonal antibody intended to treat early-stage Alzheimer’s disease.

Under the partnership, Acumen will make upfront payments to Halozyme, with potential milestone payments based on development and sales progress. Halozyme will also receive royalties on net sales of drugs using ENHANZE. Alzheimer’s disease is a global health issue, and this partnership aims to provide additional treatment options for these patients.

In addition to its Alzheimer’s initiative, Halozyme has achieved an exciting milestone with its ENHANZE technology. Its clinical study demonstrated the ability to deliver large volumes of biologics subcutaneously in just 30 seconds, a remarkable advance over traditional injection methods. This technology can greatly improve the patient experience with various therapies and represents a major step forward in healthcare innovation.

As of this writing, Gabriel Osorio-Mazzilli did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Gabriel Osorio is a former Goldman Sachs and Citigroup employee. He possesses discipline in bottom-up value investing and volatility-based long/short equities trading.


Article printed from InvestorPlace Media, https://investorplace.com/2023/11/3-promising-biotech-stocks-flying-under-the-radar/.

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