Published on 30 Nov 2021 on Insider Monkey via Yahoo Finance
10 Biotech Penny Stocks to Buy Now
In this article, we discuss the 10 biotech penny stocks to buy now. If you want to skip our detailed analysis of these stocks, go directly to the 5 Biotech Penny Stocks to Buy Now.
The fears around the spread of the coronavirus have returned to haunt people around the world as governments scramble to contain Omicron, a new variant of COVID-19 that has been designated as “high risk” by the World Health Organization. Airlines have curbed travel from the countries where the new variant was first detected and border closures are once again on the cards as the market prepares for another potential blip in the economic recovery. However, United States President Joe Biden has ruled out another lockdown in winters.
In this uncertain market, the stocks of pharma firms like Pfizer Inc. (NYSE:PFE), Eli Lilly and Company (NYSE:LLY), AbbVie Inc. (NYSE:ABBV), Bristol-Myers Squibb Company (NYSE:BMY), Abbott Laboratories (NYSE:ABT), and GlaxoSmithKline plc (NYSE:GSK) have surged as they once again become the center of focus in the search for a vaccine that is potent against the new variant. Emerging biotech firms, some of which are discussed below, are also working on developing a vaccine for the new variant.