2 Biotech Cannabis Stocks To Watch Next Month
As marijuana stocks continue to climb heading into June shareholders are finding a renewed faith in the sector. After months of a drop in trading, the cannabis sector is finally showing consistency in its upward trading. Much of this current momentum stems from better cannabis legislation as more states vote to legalize cannabis. Another contributing factor is more marijuana companies are releasing earnings and this has resonated well for some marijuana stocks.
With the end of May now here a new month will shortly begin. Analysts feel that June will pick up where the end of May has left off. Meaning it’s possible to see marijuana stocks rise even more as trading has started to look better for most of the sector. However, even though cannabis stocks are climbing investors will need to see higher levels before taking profits. Even with cannabis stock rising back up some are still showing good entry levels before the next possible breakout.
So for those who are still looking to invest in the top marijuana stocks now may be the time. Some analysts feel that further down the road closer to August marijuana stocks will reach even higher market levels. Yet due to how volatile and unpredictable the market is there no way to know for sure what will happen.
With more progress that happens in the cannabis industry the greater the chance of seeing better momentum enter the market. Most times when something big like a merger or reports of solid earnings can have a positive impact on how cannabis stocks perform. Now like always you must do your research before investing to mitigate as much risk as possible. So with this investors will be keeping watch to see what further develops in the market.
Marijuana Stocks To Watch Right Now
Jazz Pharmaceuticals plc
Jazz Pharmaceuticals plc is a known biotech cannabis company. The company leader in the science, development, and commercialization of cannabinoid-based prescription medicines. The company has garnered much attention after closing its acquisition of GW Pharmaceuticals plc.
“We are excited to welcome our GW colleagues to Jazz as we mark a transformative milestone in creating an innovative, high-growth, global biopharma leader in neuroscience with a worldwide commercial and operational footprint,” said Bruce Cozadd, chairman and chief executive officer of Jazz Pharmaceuticals. “The addition of GW further diversifies our commerical portfolio and innovative pipeline with therapies that are complementary to our existing business, including Epidiolex, a high-growth commercial product with near-term blockbuster potential. We are fortunate to be combining two companies that share a passion for, and track record of, developing differentiated therapies that advance science and the care of patients with often-overlooked diseases. We look forward to building an even stronger company together and are excited about the greater impact we will continue to drive for patients, customers and shareholders.”
Over the last month trading for JAZZ stock has started to pick up. What makes this rise so significant is JAZZ stock was able to climb in the market when other cannabis stocks were down. Now some may attribute this rise to the company being more of a Biotech company vs an all-around marijuana company. From May 4th to the 5th of the month JAZZ started to run in the market. In just that, 24 hour period JAZZ stock went up 10 percent. Moving past this point JAZZ stock was able to keep its upward push going. From the 5th to now JAZZ stock is currently up 3 percent heading into June.
AbbVie Inc. is known as one of the most-watched biotech cannabis company’s. The company discovers, develops, manufactures, and sells pharmaceuticals worldwide. In one of the company’s most recent news releases, they announced that the European Commission (EC) has approved VENCLYXTO®. This treatment is for adult patients with newly diagnosed acute myeloid leukemia (AML) who are ineligible for intensive chemotherapy.
“VENCLYXTO has proven incremental overall survival in treating newly diagnosed AML in patients who are ineligible for intensive chemotherapy when treated with VENCLYXTO plus azacitidine compared to those treated with azacitidine alone,” said Mohamed Zaki, M.D., Ph.D., vice president and head, global oncology development, AbbVie. “We look forward to bringing VENCLYXTO to more AML patients who can potentially benefit from this important new treatment option in EU countries.”
Since the end of March ABBV stock has been able to see consistent trading even while the sector faced a downtrend. At the start of March, 24th ABBV stock was $103.06 a share and went up to $108.52 on the 1st of April. From this point, ABBV stock continued to show a bit of volatility but still kept its climb going. Going from April 1st to May 28th ABBV stock is up 4 percent. Yet as June will start next week shareholders feel this rise will continue.
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