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Leading Healthcare Stocks to Watch This Week
January 13 2020 - These Four Stocks Are In Buy Range Before Key Healthcare Conference By Investors Business Daily
Vertex Pharmaceuticals (VRTX), Dexcom (DXCM), Insulet (PODD) and Intuitive Surgical (ISRG) are in buy range ahead of a major health care conference this week. Arrowhead Pharmaceuticals (ARWR) is at key support.
But before buying any of these medtech or biotech stocks, investors need to take note of a few key metrics.
Medtech, Biotech Stocks In Or Near Buy Range
The J.P. Morgan Healthcare Conference, the biotech and medical industries' biggest event of the year, opens Monday in San Francisco. Hotly anticipated presentations include Bristol-Myers Squibb (BMY) discussion of its Celgene takeover and discussions from Edwards Lifesciences (EW), Regeneron Pharmaceuticals (REGN), and Intuitive Surgical. Vertex Pharmaceuticals, Dexcom and Insulet also are presenting.
The biotech space is large and it can be hard to keep track of the top stocks. But the IBD Composite Rating can help investors focus on the best stocks in a group. The Composite Rating compiles scores on key fundamental and technical metrics like earnings and sales growth, profit margins, return on equity and relative price performance. Ideally, investors should focus on stocks with Composite Ratings of 90 or higher.
Of the stocks to watch this week, Vertex stock and Intuitive Surgical stock have perfect Composite Ratings of 99. Dexcom stock and Arrowhead stock have 98 ratings. Insulet stock only has a 79 CR.
VRTX stock closed Friday at 228.95, above a 225.76 buy point from a four-weeks-tight entry, a longer version of a three weeks tight. Prior to the breakout, Vertex stock rebounded off its 10-week line in the weekly chart, offering an earlier entry.
The latest VRTX tight trading followed a breakout in late October/early November from a long consolidation on positive drug news. Vertex won Food and Drug Administration approval for Trikafta, a triple-regimen in cystic fibrosis. A few days later, the biotech topped Q3 EPS views but sales just missed. However, VRTX stock soon powered higher, helped by positive trial data from a collaboration with Crispr Therapeutics (CRSP).
Vertex stock is on IBD's Leaderboard and Swing Trader lists.
DXCM stock is above a 232.10 buy point from a flat base. That came on the heels of a bullish 10-week line rebound, much like Vertex stock.
The diabetes treatment specialist was IBD Stock Of The Day on Friday. Dexcom stock is also on IBD's Leaderboard.
Dexcom competes against medical giant Abbott Laboratories (ABT) in selling body-worn glucose monitors. But Cowen analyst Ryan Blicker called Dexcom stock his "top diabetes devices pick," in a recent report to clients.
PODD stock closed Friday at 182.53, nearing a 187.35 flat-base entry, Marketsmith analysis shows. But Insulet stock is still buyable from its own 10-week rebound.
Like Dexcom, Insulet is focused on the diabetes product space. Like Dexcom stock, Insulet stock also formed a flat base after breaking out from a prior base as Q3 earnings and revenue beat analyst expectations in November. Insulet also raised its 2019 guidance.
Insulet stock is on IBD's SwingTrader.
Arrowhead Pharma Stock
ARWR stock fell 5.8% last week to 58.01, just above its 50-day line but below the 10-week line. Shares have been trading lower since hitting 73.72 in late November, capping a 183% surge over two months.
A bullish rebound from that 50-day/10-week line could provide a buying opportunity. But investors might want to wait until Arrowhead stock breaks a short-term trend line. Also, ARWR stock could form a new base with a 73.82 buy point.
Arrowhead Pharma was IBD's top-ranked stock for 2019. ARWR stock climbed 411% during the year. Arrowhead stock is on the SwingTrader watch list.
Intuitive Surgical Stock
On Thursday the robotic surgery company reported preliminary fourth-quarter revenue results of $1.28 billion, up 22% year-over-year. Intuitive Surgical will present at the J.P. Morgan conference Tuesday. It will report full Q4 results on Jan. 23.
ISRG stock rebounded from the 10-week line Friday following preliminary revenue results. The stock is buyable. However, while ISRG stock rose 2.2% to 598.72, it closed near session lows after hitting a record 616.56 intraday.
Intuitive Surgical stock is also on IBD's Leaderboard.
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