(C) Reuters. 3 Top Pharma Stocks to Buy This Month
Performance in pharmaceutical stocks has taken a step back after showing strong momentum through February. David Cohne believes this is temporary and is suggesting investors consider top pharma stocks such as Bristol-Myers Squibb Company (NYSE:BMY), Johnson & Johnson (JNJ), and Novo Nordisk A/S (NYSE:NVO).In 2020, pharmaceutical stocks came to the forefront as healthcare companies were searching for treatments for COVID-19. As represented by the SPDR S&P Pharmaceuticals ETF (XPH), the pharmaceutical industry gained 75% from March 23, 2020, to February 8, 2021. It has since leveled off a bit as the ETF is down 7% since then. But this provides us a buying opportunity to pick up some shares on the dip.
Much like technology companies, healthcare companies, and pharmaceutical companies, in particular, represent the future, as an aging boomer population will start requiring more medications and healthcare needs. A large percentage of the population is already heavily medicated, so imagine what it will be like in twenty to thirty years. That’s why adding pharmaceutical companies to your portfolio now isn’t a bad idea.
The key is finding companies with solid fundamentals and consistent growth, which our proprietary POWR Ratings system can help you with. So, I ran a screen for three top pharmaceutical companies in our database that also had notable growth drivers expected to drive their share prices up. This is why I am highlighting Bristol-Myers Squibb Company (BMY), Johnson & Johnson (JNJ), and Novo Nordisk A/S (NVO) below.
3 Top Pharma Stocks to Buy This Month
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