I consider these 2 FTSE 100 stocks to be among the best stocks to buy right now


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Even though the stock market has had a bit of a tantrum lately, FTSE100 stocks have proven largely resilient. In fact, the index is up just over 7% in the last 12 months. To me, this suggests that I can find some of the best stocks to buy right now in the index.

Companies in the FTSE 100 cover a wide range of industries. But it’s biotech stocks that have caught my eye as a growth investor. With the pandemic emphasizing the importance of this sector, the development of new drugs, vaccines and treatments appears to be accelerating. And that seems like an opportunity to me.

Is AstraZeneca one of the best stocks to buy right now?

Actions of AstraZeneca (LSE: AZN) have had a pretty stellar run lately. The UK’s largest biotech group has been firing on all cylinders. The latest earnings show a 51% increase in total revenue and a 20% increase in top earnings. So to see FTSE 100 shares rise almost 30% in the last 12 months is not surprising.

There are many factors at play. But it doesn’t take long to realize that this growth is being fueled by a steady stream of positive clinical trial results and regulatory approvals. And this may be just the beginning. Just last week, management reported on its phase three drug for breast cancer, Enhertushowed a 49% increase in efficacy over traditional chemotherapy.

A recent Fortune Business Insights study forecast that the breast cancer therapeutics market will grow at a CAGR of 13.1% between now and 2027, reaching a total size of $55.3 billion. It goes without saying that it is a great opportunity for the company. And with further encouraging results from phase three trials for its cardiovascular and Devic’s disease treatments, the future looks bright for investors.

ignoring the Alexion acquisition, earnings per share (EPS) for 2021 was an impressive $5.29 (£4.23). Compared to today’s stock price, that puts the price-earnings ratio at just under 20. While that’s certainly not “cheap,” it’s far from unreasonable. And with such an impressive list of new drugs coming up for regulatory approval, this seems like a fair price to pay for my wallet. That’s why I think AstraZeneca could be one of the best stocks you could buy right now.

Another FTSE 100 Biotech Stock Worth Watching

Discovering new and improved treatments is exciting. However, for patients, especially in the US, the affordability of these treatments is often an issue. That’s where the generic companies like it Hikma Pharmaceuticals (LSE:HIK) come into play.

When a drug’s patent is withdrawn, other companies can step in and create their own versions. Consequently, the market is flooded with alternatives that drive prices down. For the most part, Hikma’s portfolio consists of chemical-based generics. But the management has recently started to delve into the field of biotechnology with its biosimilars in association with Celltrion.

Because creating biosimilars is difficult, it is a relatively uncontested field. But that is creating a huge opportunity. In fact, analyst forecasts are predicting a 40.2% annualized expansion in the size of the biosimilars market through 2029. And with plenty of resources at your disposal, I think this FTSE 100 stock could be one of the best stocks to buy. now for my wallet.




Reference-www.fool.co.uk

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