Today is not the best day for markets worldwide as investors await a big deadline tomorrow to find out if Greece can come to a bailout agreement. Nonetheless, when stocks are down, they generally produce great opportunities for future gains. With that said, here are three stocks in the biotech space that are presenting that opportunity today.
Synergy Pharmaceuticals Is Down | Not For Long
Synergy Pharmaceuticals Inc (NASDAQ: SGYP)
Synergy Pharmaceuticals stock is having a tough day in the market today. After the value of the stock climbed due to positive results from a plecanatide study, we’ve seen a bit of volatility all last week and leading into today. However, I’m not expecting to see these declines last very long. The reality is that SGYP should have popped back up today, but with current concerns over the state of the European economy and Greece, the stock markets around the world are struggling. Nonetheless, I’m expecting to see gains relatively soon. If Greece is able to form a bailout agreement by the deadline tomorrow, we should see the markets recover tomorrow. However, even if that’s not the case, I think we’ll see strong positive movement from SGYP by the end of the week. So, keep your eyes on this one for opportunity!
MannKind Corporation Stock Sees Declines
MannKind Corporation (NASDAQ: MNKD)
MannKind Corporation stock has been a very interesting one to watch over the past several months. After Goldman Sachs downgraded the stock early in the year, it bounced back thanks to a Jefferies survey that showed that endocrinologists not only know about Afrezza, but plan on using it in the future. However, for the last couple of weeks, it has traded flat as investors wait for a sign of the direct-to-consumer campaign coming underway. With that said, the D2C campaign is coming online relatively soon and likely to lead to nice gains. However, I think we’re going to see a few more declines first considering the strong short interest surrounding the stock. So, if you’re looking to get in on this one, wait to see how low it can get before jumping in for the long term gains that are sure to come!
Gilead Sciences Stock Is Down
Gilead Sciences, Inc. (NASDAQ: GILD)
Finally, we have Gilead Sciences. In my opinion, GILD’s success story is one of the best in biotech. Today, the company dominates the HIV and HCV treatment markets; and is likely to continue doing so for some time. However, when AbbVie Inc (NYSE: ABBV) entered the HCV space, it spooked GILD investors. As a result, revenue growth at Gilead Sciences has far surpassed the growth we’ve seen in the stock price. Currently, Gilead Sciences stock is incredibly undervalued with a P/E ratio of below 10. With that said, I see today’s declines as a great opportunity to get in on gains that are all, but inevitable.
Do You Know Of Any Others?
Do you know of any other biotech stocks that are presenting strong opportunities? If so, let us know in the comments below!