The 3 Most Undervalued Biotech Stocks to Buy Now: June 2023

Now is a great time to accumulate top undervalued biotech stocks.

For one, the sector is recession-proof. That’s because we can’t stop people from aging, or from seeking healthcare needs.

Two, we have an aging population demanding better treatment options.

Three, with all the demand, analysts say the global biotech market could be worth about $3.44 trillion by 2030 from $852.8 billion today.

All powerful catalysts. Even better, if you dig deep enough, you’ll find some undervalued biotech stocks with substantial catalysts straight ahead.  In fact, there are three to consider immediately.

CRISPR Therapeutics (CRSP)

the CRISPR Therapeutics (CRSP) logo seen displayed on a smartphone

Source: rafapress / Shutterstock.com

CRISPR Therapeutics (NASDAQ:CRSP) has big catalysts around the corner. For one, the company could soon bring Exa-cel to market with Vertex Pharmaceuticals to help treat sickle cell disease and Beta-thalassemia. At the moment, both disorders can distort the production of hemoglobin.

Without enough hemoglobin, red blood cells can change shape, bunch together, and start to block blood flow.  To treat that, thousands of patients require transfusions, oxygen flow, and sometimes, hospital stays.

The good news is Exa-cel may be able to help. And, if approved, it could be commercially launched by next year.

As noted by Global X ETFs, Exa-cel’s sales are expected to top $1 billion in 2028. In short, this $4.4 billion stock could see massive upside ahead.

Viking Therapeutics (VKTX)

Biochemical/biotech research scientist team working with microscope

Source: Mongkolchon Akesin / Shutterstock.com

Another undervalued biotech stock to consider is Viking Therapeutics (NASDAQ:VKTX). Since January, shares of Viking exploded from about $8 to about $25 a share.

All thanks to its potential treatment for obesity, VK2735, as I noted on June 22, which I also said, “works much like Eli Lilly’s (NYSE:LLY) Mounjaro, which stimulates incretin hormones, GLP-1, and GIP.”

In the days that followed, the stock started to crash on news Pfizer (NYSE:PFE) would advance its mid-state weight loss drug into Phase 3. On news of impressive Phase 2 results for Eli Lilly’s obesity treatment. But don’t let that chase you from VKTX.

With promising initial data, Viking Therapeutics plans to initiate its Phase 2 trial, mid-year.

The company also initiated a Phase 1 clinical study to evaluate an oral version of VK2735.  The company believes the potential to provide both a subcutaneously injected and an oral dosage form represents a significant expansion of the opportunity.

The potential oral therapy could have a big advantage over injected therapies from companies, such as Eli Lilly.

BioLine RX (BLRX)

A close-up concept image of a tiny glass vial with a strand of DNA in it.

Source: Shutterstock

The last time I highlighted BioLine RX (NASDAQ:BLRX), it traded at about $1.15 on May 4. Today, after testing a high of $1.70, it trades at $1.63 a share.

The US FDA recently accepted its APHEXDA (motixafortide) new drug application (NDA). This is for stem cell mobilization for autologous transplantation in multiple myeloma patients. There’s a PDUFA target date of Sept. 9.

Two, BLRX just announced the publication of data from its GENESIS Phase 3 clinical trial of motixafortide plus granulocyte colony-stimulating factor in treating patients with multiple myeloma prior to autologous stem cell transplantation. If eventually approved, it could be used as a way to enhance treatment options.

On the date of publication, Ian Cooper did not have (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.

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