Hot Biotech Stocks to Keep an Eye on in October

The biotech market is one of the most lucrative when one gets in at the right time. These stocks are even more attractive now that the COVID-19 pandemic is weighing in on the world economy. However, biotech stocks carry an elevated level of risk, especially when trials for new treatments fail. It is not uncommon for these stocks to lose over 50% of their value in a single session when such happens. Conversely, when things go right, biotech stocks can give you gains of over 100% in a few hours. At the moment, there are several biotech stocks that are well-positioned for exponential gains despite the market volatility. Some of the top biotech stocks to watch in the short-term are:

Axovant Gene Therapies Ltd [NASDAQ: AXGT]

Axovant Gene Therapies Ltd is a high potential stock to watch in the short-term. This follows the company’s announcement that it was partnering with Viralgen. Through the partnership, the company would be in a position to leverage the manufacturing capabilities of Viralgen and expand its AAV-based gene therapy programs. The company is also set to make several scientific presentations in October and this is likely to add to the excitement around it all through the month.

Trevena Inc [NASDAQ: TRVN]

Trevena Inc is another high potential stock to watch this month, because it is one of the companies working on a COVID-19 treatment. Back in June, the company announced that it was working together with the Imperial College London for the development of a treatment of lung injuries caused by COVID-19. Lately, the treatment has been featured on several top publications, an indicator that it was becoming more noticeable as a viable treatment option. Given that lung issues are a major cause of death in COVID-19 patients, this treatment could trigger a major rally in this stock in the near-term.

EvoGene Ltd [NASDAQ: EVGN]

EvoGene Ltd is another high potential stock to watch this month. Back in September, the company reported that it had good pre-clinical results from its study of BMC128, a live bacterial product. BMC128 is made in such a way that it treats the immune system with anti-tumor properties. This is a big deal and will play a huge role in the long-term growth of this stock relative to the rest of the market. That’s because once the product is approved and it hits the market, it will have a major impact on the company’s revenues in the long run. The increase in intrinsic value will reflect in the company’s stock value in the long run.

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