CRSP - 2 Biotech Stocks to Help Recession-Proof Your Portfolio
Exelixis (NASDAQ: EXEL) and CRISPR Therapeutics (NASDAQ: CRSP) have been able to parlay their specialized knowledge of genetic therapies into share-price growth. While the Fidelity Select Biotech ETF is down more than 22% for the year, these two biotechs have been able to buck that downward trend. Let's see what these two biotechs have going for them that is so encouraging to investors.
Exelixis is a biotech that focuses on genetic therapies to fight difficult-to-treat cancers. Its shares are up more than 19% so far this year because the company's financials, buoyed by its cabozantinib franchise, have seen strong improvements. On top of that, Exelixis has several late-stage therapies that could expand the applications for its four commercial products: Cabometyx and Cometriq (cabozantinib), Cotellic (cobimetinib) and Minnebro (esaxerenone).
In the first quarter (ended March 31), the company posted revenue of $310.3 million, up 36.5% year over year, with net income of $68.6 million compared to $1.6 million in the year-ago period. Exelixis reported $0.21 in earnings per share ( EPS ) versus $0.01 in Q1 of 2021.
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2 Biotech Stocks to Help Recession-Proof Your Portfolio