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The Dow sank 600 points when news of coronavirus first began circulating. Though it's regained some of those losses, the market may still hurt for a time.
However, there are a few biotech stocks charged with seeking out a vaccine that could pop over the next year. In fact, our best biotech stock offers 182% upside potential.
Today, we're sharing our best stocks to buy this year that are working toward a vaccine and expecting a bump in the process.
The White House recently fast-tracked approval for vaccine trials, and we like these three biotech firms as the best chances to find one.
Biotech Stocks to Buy, No. 3: Moderna Inc.
Moderna Inc. (NASDAQ: MRNA) is a Massachusetts-based biotech focused on drug discovery and development.
This company may have developed a potential shortcut to the process of finding a vaccine. It's actually looking at ways to shorten the process of developing vaccines for outbreaks like this in general.
This involves injecting a synthetic messenger RNA in patients that allows the body to develop its own unique defense.
This company is only 10 years old, and its novel approach to fighting cancers and cardiovascular, metabolic, and renal diseases has secured a place on the world stage.
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One of its earliest partnerships was a $24 million deal with the U.S. Defense Advanced Research Projects Agency to develop synthetic RNA technology to fight against biological weapons. Later, Moderna also went on to partner with the Biomedical Advanced Research and Development Authority to develop a Zika vaccine in 2016.
Now, it's working with the National Institute of Allergy and Infectious Diseases toward a coronavirus vaccine.
And it could lead the pack with its unique, speedy approach. Analysts give it a high 12-month target of $40 from today's $19.92. That's a more than 100% profit for investors.
This next stock, however, may have even more to gain…
Biotech Stocks to Buy No. 2: Novavax
Novavax Inc. (NASDAQ: NVAX) may develop a vaccine in three months.
The Maryland-based vaccine company already saw shares rocket 60% as coronavirus fears started to circulate in late January. That's an indication its price could react dramatically if Novavax beats the competition to an effective treatment.
What separates Novavax is that it specializes in vaccines – no fancy gimmicks – most famous for its flu vaccine.
This company is currently putting several different vaccines through clinical trials, and they should produce their late-stage results by the end of Q1 2020.
And Novavax has already developed vaccines for both SARS and MERs. Neither of these were approved in the end, but that doesn't mean the company can't come through on its ambitious three-month goal for the Wuhan virus.
If it is successful, the stock could potentially soar from today's $6.88 to the average analyst target of $13.75 – more than 99% profit for today's investor.
But we have a feeling this next company could produce a successful vaccine even quicker…