TECH - The 3 Best Biotech Stocks to Buy in February 2024

2024-02-13 08:00:00 ET

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When searching for the best biotech stocks to buy, investors may be initially off-put by the industry’s volatile nature . However, the sector is still stable and capable of continuously providing growth over time. Stable companies exist regardless of the notion that a single “wonder drug” might come along and cause a price boom.

While considering which biotech stocks to add to your portfolio, looking at current offerings alongside incoming projects is essential. Most biotech companies use these current projects as a way to fund future endeavors , many of which may or may not succeed.  Even with successful preliminary results, many biotech companies still have to overcome FDA regulatory hurdles.

That’s why the critical focus for investors looking to buy biotech stocks should be current profits and how they steer annual performance. Here are three of the best biotech stocks to buy this February for investors looking for new long-term stocks.

Pfizer (PFE)

One of the market’s most stable biotech companies, Pfizer (NYSE: PFE ), is looking to redefine its future as a leader in cancer therapies. With the profits of Covid-19 pandemic in the rearview mirror, Pfizer knows that focusing on chronic diseases, such as cancer, provides a steady and stable income stream for future projects.

The best value Pfizer has to offer, however, is its history in combating an endless array of diseases . This wealth of expertise, paired with strong financial health, has put Pfizer in a position to grow continuously and provide stable performance.

It also helps that Pfizer has put itself at the forefront of everyone’s Super Bowl Sunday through marketing targeting the emotional aspects of developing novel medicines. This attempt to win the hearts of consumers makes Pfizer worth keeping in mind for stocks to buy this February.

Exelixis (EXEL)

While not the most commonly known biotech stock, Exelixis (NASDAQ: EXEL ) represents significant value for investors seeking profit from low entry prices. Furthermore, recent trial results regarding many of EXEL’s chemotherapeutic technologies show significant opportunities for application. This is part of what makes understanding the science behind a biotech stock’s offering so crucial for success.

One of EXEL’s most promising drugs for combating kidney cancer just finished a lengthy four-year trial with promising results. Since this type of cancer lacks significant treatment, scientific advancements mean longer lives for patients and new market opportunities.

This news bodes well for EXEL’s stock price and assures investors that current expenditures for research and development are worthwhile. Steady results such as these are critical to the financial trustworthiness of highly experimental firms. Thanks to this consistency, EXEL holds a stock rating comfortably among the best biotech stocks to buy .

Bio-Techne (TECH)

Among the best biotech stocks to buy right now, Bio-Techne (NASDAQ: TECH ) has positioned itself as a leading provider of biomedical equipment. The company’s dedicated specialization to highly complex machines makes it a leader in the diagnostic and bioprocessing industries. It also has a corner on select proprietary protein complexes critical for other aspects of the biotech industry.

To support this stable position and entice investment, Bio-Techne declared a dividend of $0.08 per share starting Q4 of 2023. Such confidence from the company’s board of directors only continues to make the stock more attractive. That’s because stocks that focus on upholding dividends tend to soften losses when the market lessens.

Bio-Techne has solidified itself as a strong buy by offering over 500,000 different products with $1.1 billion in sales over the last two years. With the central nature of these products to the biotech industry and a reputation for success, the potential for Bio-Techne’s growth is already laid out.

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

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