So far today, the market has been a bit unforgiving. However, as we know as traders and investors, the market is a series of upward and downward movements; not every day can be a great day in the market. Nonetheless, when we have bad days like this, great opportunities tend to present themselves; and that’s exactly what we’re seeing today. Here are a few biotech stocks that I think are presenting quite the opportunity…
Enzon Pharmaceuticals Inc (NASDAQ: ENZN)
Enzon Pharmaceuticals has had an incredible time in the market recently. Over the past month, we’ve seen massive growth. However, throughout the past few days, we’ve seen the momentum slow as a flag started to develop on the chart. Today, ENZN broke the support line, but seems to be climbing back up. Nonetheless, there are several fundamental reasons why this one still has room for growth. So, in both the short term and long term, I’m expecting to see good things. With today’s declines, there’s an opportunity to get in on those good things at a low cost. Currently (11:57), ENZN is trading at $1.42 per share after a loss of 5.33% so far today.
MannKind Corporation (NASDAQ: MNKD)
MannKind is the stock in biotech currently that everyone either loves or hates; and with a passion. Recently, the bears have taken control of the stock following a downgrade from Goldman Sachs and tons of MNKD bashing in the news. However, I don’t agree with the bears. The reality is that MannKind has Afrezza; and Afrezza will be the goose that lays the golden eggs. With that said, recent lows have presented a great opportunity to get in on long term gains with very little cost. Currently (11:01), MNKD is trading at $4.61 per share after a modest gain of 0.44% so far today.
Gilead Sciences, Inc. (NASDAQ: GILD)
Gilead Sciences is an incredibly strong company with a strong hold on the hepatitis C and HIV markets. While AbbVie is gaining on GILD in hep C, I still think they have a decent sized run as king of the market. With that said, I’m expecting to see short-term and mid-term gains from the stock. While the long-run remains questionable, there’s still opportunity for big gains from GILD now; and with the market at such a stand still today, there’s a perfect opportunity to get in on the gains at lows! Currently (12:07), GILD is trading at $102.91 per share after a loss of 0.03%.
What Opportunities Have You Taken Advantage Of
Have you taken advantage of any of the opportunities above? Do you know of any others? Let us know in the comments below!