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Pharma stocks: January gains
The virus situation seems to be improving. The UK passed the peak of infections, the US and Europe see improvements, too. Vaccines are being distributed all over the world. Not without obstacles but still, the process is unrolling. In this regard, it makes sense to look at the pharma stocks that all surged in 2020 on the pandemic.
Let’s put it like this: if you entered a position at the end of 2020, what would your profit be now?
Novavax is no doubt a champion here. It was floating above the support of $108 just a couple of weeks ago. Currently, it trades at $285 – that’s just slightly less than a 300% growth. All that is thanks to the vaccine production that appears to have taken a steady course and is expected to deliver the shots by summer.
Inovio made a slower rise but as spectacular. Starting at around $9 per share in the middle of January, it came to $19 right this week, ceding back below $15 however.
Moderna, the pharma company that was second after Pfizer in the race for vaccine delivery, dropped to $104 as the year began. However, since then, it gained more than 80% of value rising to $185 per share.
Emergent BioSolutions rose from $90 to $118 through the last several weeks taking #4 in the league of the pharma stocks.
All these stocks are at the forefront of the pharma industry now, and they will enjoy high demand through 2021 as even Pfizer CEO said that Covid-19 is “here to stay”. That means, in the long-run, you may bet on further growth – and further gains. At the same time, that doesn’t put away the necessity of technical analysis and being prepared to see corrections on the way – especially after these stunning leaps to the upside.
Finally, remember that you can trade stocks not only through MetaTrader 5 but FBS Trader, too!
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