Bristol Myers Squibb
Price per share in November: $62.09
Target price: $71–75
Bristol Myers Squibb is located in the United States. It managed to increase its income by taking several thoughtful steps. First and foremost, the company acquired Celgene, boosting significantly its earnings per share. Then, it launched the sale of drugs against several types of cancer known as Opdivo. Notably, this drug is used worldwide. Last but not least, Bristol Myers Squibb was able to multiply its revenue by the announcement of the creation of a novel oral anticoagulant – Eliquis. It is expected to be used for the treatment of people infected with coronavirus in order to prevent thrombosis. According to analysts, Bristol Myers Squibb’s revenue may grow by a hefty 14% by the end of the year.
Regeneron
Price per share in November: $514.71
Target price: $638–670
Unlike other pharma companies, Regeneron sells drugs that are already used for coronavirus treatment. Its most popular drug, Dupixent, treats atopic dermatitis, asthma, and chronic rhinosinusitis. Notably, the potential use of Dupixent in eosinophilic esophagitis and chronic urticaria is currently under clinical development. Additionally, the company managed to obtain a spotless reputation in the ophthalmology sector. Eyley can treat muscular degeneration (eye disease) and diabetic retinopathy. Experts say that demand for this kind of drug is projected to remain high for more than five years. Regeneron is also working on cancer treatment. According to the analysts, the company's revenue is likely to rise by 20%.
Laboratory Corp of America
Price per share in November: $198.77
Target price: $242.5
Laboratory Corp of America is one of the largest laboratory networks in the world aimed at testing cancer, HIV, and genetic diseases. Besides, the company is involved in conducting clinical trials of almost any new medicines. Curiously enough, the release of a new coronavirus vaccine is a double-edged sword factor for the company. On the one hand, widespread vaccination may reduce the demand for its services. On the other hand, the decline in the spread of COVID-19 will help restart planned research that was delayed against the background of quarantine restrictions. In other words, it means that the company will be engaged in new research paying less attention to the coronavirus treatment drugs whose development has remained crucial for such a long time. Experts reckon that the company may multiply its revenue by 18%.
Incyte
Price per share in November: $81.69
Target price: $103.4
US-based company Incyte works primarily in the field of oncology. It develops and commercializes drugs that are used to treat various types of cancer. The company's share price fluctuated significantly amid political instability in the United States caused by the presidential election. What is more, the company was forced to reduce the diagnosis of cancer patients because of the growing number of new coronavirus cases. Nevertheless, the situation is gradually improving and demand for its services is mounting rapidly. Analysts say that the upcoming year will be quite fruitful for Incyte thanks to the release of new drugs – Monjuvi and Pemazyre as well as current research. Therefore, the company’s net income may surge by 24%.
Vertex Pharmaceuticals
Price per share in November: $211.97
Target price: $273
Vertex Pharmaceuticals holds a leading position in the market. Importantly, it is a monopolist in the mucopolysaccharidosis treatment sector. Its drugs are patented and they have no analogues. This is why the company takes the top spot among pharma firms. However, even such giants sometimes stumbled. After a new drug that was undergoing clinical trials did not win approval, the company's shares drastically declined in value by more than 20%. Nevertheless, there is still a high potential for a rebound. Experts recommended buying the company's securities now at a better price. They also exclude any grey clouds on the company's financial horizon in the near future.
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