DICE - 2 Biotech Stocks For Your June 2023 Watchlist
2023-06-20 11:22:42 ET
The biotechnology sector is an exciting and dynamic area within the broader healthcare industry. It primarily involves the application of biological systems, organisms, or derivatives to develop or manufacture novel products or technologies. These include everything from new drugs and therapies to innovative agricultural products. This makes it an integral part of several industries, including healthcare, agriculture, and the environment.
Biotech stocks represent companies in this sector. Most often those focused on the development and commercialization of novel medical treatments and diagnostics. Investing in biotech stocks can be highly lucrative. This is due to the significant profit potential if a company successfully develops a new drug or therapy. However, it’s important to note that these stocks can be quite volatile. The journey from initial research to FDA approval is long, uncertain, and expensive, and many promising treatments fail along the way.
Despite the risks, the biotech sector is continually attracting investment due to its potential for substantial returns and its crucial role in medical innovation. New developments in areas like gene editing, personalized medicine, and regenerative therapies are opening up new avenues for treatment and potentially enormous markets for successful companies. While investing in biotech stocks may not be for the faint-hearted, for those who understand the risks and have a long-term perspective, the biotech sector offers opportunities unlike any other. With this in mind, let’s look at two biotech stocks to watch in the stock market now.
Biotech Stocks To Watch Right Now
- DICE Therapeutics Inc. ( NASDAQ: DICE )
- Pfizer Inc. ( NYSE: PFE )
DICE Therapeutics (DICE Stock)
To begin, DICE Therapeutics Inc. (DICE) is a biotechnology company that operates at the cutting edge of drug discovery and development. They focus on advancing therapies for autoimmune diseases and cancers through their platform that targets intracellular protein-protein interactions.
Just this morning, Eli Lilly and Company ( NYSE: LLY ) announced plans to acquire DICE Therapeutics. In detail, Lilly is acquiring DICE Therapeutics for its novel oral therapeutic candidates and its proprietary DELSCAPE technology platform. This strategic acquisition, costing around $2.4 billion, is projected to enhance Eli Lilly’s immunology department by incorporating DICE’s innovative drug discovery technologies and workforce. The transaction has been approved by both companies boards of directors. Furthermore, the deal is pending to close in the third quarter of 2023 and will see all outstanding shares of DICE bought for $48 each.
Following this news release, shares of DICE stock surged on Tuesday morning by 37.31%, currently trading at $46.48 a share.
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Pfizer (PFE Stock)
Next, Pfizer Inc. (PFE) is one of the world’s largest pharmaceutical companies. It’s known globally for a wide range of products across different therapeutic areas. The company’s range of products encompasses treatments for cancer, immune disorders, and rare conditions, in addition to vaccines designed to combat infectious diseases.
This morning, Tuesday, Pfizer Inc. announced that it will host a webcast conference call with investment analysts at 10 a.m. EDT on Tuesday, August 1, 2023. This call, which is open to both investors and the general public, is going to provide an update on Pfizer’s performance based on its Second Quarter 2023 Performance Report. Moreover, the second quarter 2023 financial results will be released on the same day.
Meanwhile, during Tuesday’s mid-morning trading session, shares of PFE stock are trading slightly lower on the day so far by 1.04% at $39.66 a share.
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