3 Magnificent Growth Stocks to Buy in March: Eli Lilly, Moderna, Vertex Pharmaceuticals
Top Healthcare Growth Stocks with Massive Potential in March
These three stocks have two important common denominators: the same industry and tremendous growth prospects. You can find growth stocks in every sector. With healthcare making up nearly one-fifth of the U.S. economy, it's a great place to look.
Eli Lilly can be a top growth stock for years
One stock that could potentially usurp one of the tech stocks in the "Magnificent Seven" is Eli Lilly. The company's prospects are truly magnificent, thanks to a couple of promising glucagon-like peptide-1 (GLP-1) drugs in Mounjaro (for diabetes) and Zepbound (weight loss).
- The potential is massive, with analysts repeatedly upgrading their forecasts for weight loss drugs given their potential to treat other diseases and conditions.
- A recent trial found that tirzepatide, the active ingredient in both Mounjaro and Zepbound, can potentially be an effective treatment for metabolic dysfunction-associated steatohepatitis, or MASH, a form of liver disease.
Moving beyond COVID
Don't think of Moderna as just a COVID vaccine stock. Sure, that's been true in recent years, but it's likely to change soon.
- The Food and Drug Administration (FDA) set a PDUFA date of May 12, 2024, for its decision on respiratory syncytial virus (RSV) vaccine mRNA-1345.
- Moderna could have a big winner on its hands if the vaccine is approved as anticipated. Only mRNA-1345 has a pre-filled syringe that offers convenient administration.
There is no stopping this biotech
If you're looking for a fantastic growth stock to buy in March -- or in any other month -- you can't go wrong with Vertex Pharmaceuticals.
- The company's innovative wheel is still spinning. It recently reported positive results for its next-gen CF medicine.
- Management is looking to target the market for pain medicines with innovative therapies like VX-548.
So, even though Vertex Pharmaceuticals has crushed the market in the past decade, it is still time to get in on this magnificent growth stock.