2 Beaten-Down GLP-1 Stocks to Buy on the Dip
Don't wait until clinical milestones send their share prices soaring.
Overview
The GLP-1 market is currently one of the fastest-growing areas in the pharmaceutical industry. It's not surprising, then, that many drugmakers -- big and small -- are looking to capitalize on this. But which stocks should investors buy to ride this wave? Let's consider two options: Novo Nordisk (NYSE: NVO) and Kailera Therapeutics (NASDAQ: KLRA). Neither company has performed well lately, but they could still be attractive picks for investors looking to cash in on the rapid growth of the GLP-1 space.
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Novo Nordisk is a leader in the GLP-1 market, but the company has experienced several clinical setbacks over the past 18 months. Its financial results have also worsened due to stiff competition from Eli Lilly (NYSE: LLY). However, Novo Nordisk may be slowly turning things around. In January, it launched oral Wegovy, the first weight loss pill approved in the U.S. Oral Wegovy has been a smashing success, including among people who had never taken GLP-1 medicines before, who account for more than 80% of prescriptions.
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Originally published at www.fool.com.