2 Healthcare Stocks That Doubled in 2019 and Can Still Go Higher
Investing in healthcare can be an excellent way for investors to diversify their portfolios and take a position in strong, stable markets that will continue to see demand for the foreseeable future. The two stocks listed below not only have a lot of long-term potential but have already delivered strong results this year with both of their share prices doubling, dwarfing the S&P 500's returns of 29% in 2019.
Seattle Genetics (NASDAQ: SGEN) was having a good year in 2019 with the stock up around 30% in September. Things really started to take off for Seattle Genetics when the company released results of its phase 1 clinical trial for EV-103, which is designed to treat patients with urothelial cancer, the most common type of bladder cancer. The company announced that "the study met outcome measures for safety and exhibited encouraging clinical activity for this platinum-free combination in a first-line setting." It's a good first step for the drug, but phase 1 is still very early on in a drug's testing and it is no guarantee that EV-103 will hit the market anytime soon. It could still be years before all the necessary testing is complete.
The company got another boost in its share price in October when it announced positive results from a trial evaluating its tucatinib drug in treating patients with HER2-positive breast cancer. The drug was used with trastuzumab and capecitabine and showed encouraging results, so much so that the company announced it would submit a new drug application in early 2020.
Source Fool.com
