President Donald Trump speaks in the Rose Garden after introducing a new point-of-care COVID-19 test kit developed by Abbott Labs at the White House on March 30, 2020 in Washington, DC.
Win McNamee | Getty Images
A handful of drug companies are on the front lines of fighting the deadly coronavirus and Wall Street is watching closely for which stocks will bank the breakthroughs.
CNBC’s Covid-19 Testing & Treatments Index is equal-weighed and currently comprised of 29 companies that are working on testing and treating the novel coronavirus. Its components are a mixture of pharmaceutical and biotechnology companies ranging from Biogen to Gilead Sciences. Its largest components by market value are Johnson & Johnson, Pfizer, Roche and Novartis.
The index has rallied more than 15{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} in the past month, outperforming the S&P 500.
To find Wall Street’s favorite companies working on a treatment, CNBC used FactSet to screen through the Covid-19 Testing & Treatments index for the ten stocks with the most upside to their 12-month price target. Plus, at least half of the analysts covering the stocks must recommend buying them.
Take a look at the drug companies that Wall Street believes will pay off the most for investors.
More Stories
Restaurant Financial Management Issues
Unsecured Business Loan With No Collateral
Principles of Financial Success You Must Know (Part 2)