While the pharma space has seen growing excitement over weight-loss drugs from Eli Lilly (LLY) and Novo Nordisk’s (NVO) latest earnings, investors are increasingly curious over the types of innovation biotech stocks could offer. But with so many names and new research coming out every day, it can be difficult to find where to start.
Wedbush managing director of equity research David Nierengarten joins Julie Hyman for the newest installment of Good Buy or Goodbye to give insight into which drug makers and manufacturers are worthy of investor portfolios.
Nierengarten picks Argenx (ARGX) as his Good Buy, citing continued growth in its core Vyvgart franchise — a drug that helps treat neuromuscular junction disease myasthenia gravis — and additional market opportunities involved with the franchise to help treat other ailments and conditions.
Nierengarten picks Novocure (NVCR) as his Goodbye claiming its recent rally will fade as the upcoming launch of its brain cancer drug, Optune, may not see meaningful revenue. In addition, he believes that the study of that same drug for its potential applications for pancreatic cancer treatment “will fail,” presenting an even bigger risk to the stock.
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