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If You Can Only Buy One Biotech Stock in December, It Better Be One of These 3 Names

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  • Here are three top biotech stocks with major catalysts in December.
  • Editas Medicine (EDIT): EDIT will release key clinical data on its sickle cell treatment on Dec. 11.
  • Bluebird Bio (BLUE): It’s waiting on a US FDA decision on its sickle cell treatment on Dec. 20.
  • Structure Therapeutics (GPCR): It’s expected to release Phase 2a trial results of the treatment for diabetes in December.
Biotech stocks - If You Can Only Buy One Biotech Stock in December, It Better Be One of These 3 Names

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Some of the hottest opportunities can be found in biotech stocks. Look at gene editing companies, like CRISPR Therapeutics (NASDAQ:CRSP), for example. Since the start of November, CRSP ran from about $40 to $70.60 on a favorable US FDA advisory panel review of its sickle cell treatment. Now, as it nears its Dec. 8 PDUFA date it could still see higher highs.

Or, look at what just happened with biotech stocks, like SpringWorks Therapeutics (NASDAQ:SWTX). The biotech popped from about $21 to $26.04 after the US FDA approved its non-cancerous tumor treatment. Even better, there are even more biotech stocks just like these. In fact, here are three top biotech stocks to consider heading into December.

Editas Medicine (EDIT)

Gene editing stocks: a concept image of a hand holding a pair of tweezers that is pulling a section off of a dna strand
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Let’s look at Editas Medicine (NASDAQ:EDIT). I last mentioned Editas Medicine on Nov. 20, as it traded at around $10. Now up slightly, I expect it to push even higher on two key catalysts. One is the potential US FDA approval of CRISPR Therapeutics’ treatment for sickle cell.

And two, EDIT has its own catalyst on Dec. 11. That’s when it’s expected to share clinical data on its sickle cell treatment, as well. So far, we know the US FDA has also granted Regenerative Medicine Advanced Therapy (RMAT) designation to EDIT-301, EDIT’s investigational treatment for sickle cell, as noted by the company.

Bluebird Bio (BLUE)

a gold and clear pill capsule contains a representation of a DNA molecule
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Even Bluebird Bio (NASDAQ:BLUE) is waiting on a US FDA decision on its sickle cell treatment, lovo-cel. With a decision date set for Dec. 20, BLUE is already gaining momentum, running from about $2.60 to $3.80 so far. 

Helping, HSBC analysts recently initiated a buy rating on the stock. Plus, according to the company, “Launch preparations for lovo-cel for sickle cell disease are well underway in anticipation of our December 2023 PDUFA date.”

BLUE also made it clear it will have resources to meet its operating expenses and capital requirements through the second quarter of 2024. Better, BLUE just posted total revenue of $12.4 million for its most recent quarter, as compared to the $100,000 posted a year earlier.

Structure Therapeutics (GPCR)

MNMD stock: A scientist holding a test tube in a stock image. AI Recommended Biotech Stocks
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Also, take a look at Structure Therapeutics (NASDAQ:GPCR), a biotech company developing GSBR-1290, an oral GLP-1 receptor agonist for weight loss in adults and those with type-2 diabetes. In December, the company is expected to release Phase 2a trial results of the treatment for diabetes. If we see positive results, the GPCR stock could really begin to take off.

By the first half of 2024, the company expects to post Phase 2a study results for the obesity treatment, as well. Helping, Piper Sandler analysts raised their price target on Structure Therapeutics to $93 from $58, with an overweight rating. 

JMP Securities also initiated coverage with an Outperform rating, with a $90 price target. As noted by TipRanks.com, “The firm expects an effective, once-daily oral GLP-1R agonist ‘will be a compelling option for patients.’”

Also, as noted in the company’s earnings release, “Our recent Phase 1b data support the potential of GSBR-1290 as a promising, differentiated oral GLP-1 receptor agonist with once-daily dosing,” said Raymond Stevens, Ph.D., Founder and CEO of Structure Therapeutics. “Following the completion of our recent $300 million equity financing in October, we believe we are well positioned to advance and accelerate the development of GSBR-1290 as well as our entire oral incretin franchise.”

On the date of publication, Ian Cooper did not have (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.


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