3 Biotech Stocks to Watch Heading Into 2023

BIIB, CRSP, and VRTX are biotech stocks to watch for 2023

Digital Content Manager
Dec 29, 2022 at 2:49 PM
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Pharma and biotech stocks are enjoying tailwinds as part of the broad market rally today. Biogen Inc (NASDAQ:BIIB), Crispr Therapeutics AG (NASDAQ:CRSP), and also Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) are all firmly higher today, but could see an even bigger spotlight in 2023 amid some exciting scientific developments.

Congressional Report Can't Shake BIIB

BIIB was last seen up 1.3% at $277.63, brushing off a congressional report that said the U.S. Food and Drug Administration (FDA) did not adhere to its own guidance and internal practices during the approval process of Biogen's Alzheimer's drug. The shares have been cooling off from their Nov. 30, annual high of $311.88, but support from the 80-day moving has been a constant since the security's September bull gap. Over the last six months, BIIB has added 36.2%.

Keep an eye out for Biogen next week, when the FDA is set to announce its decision to give the experimental drug special authorization. If the 

CRSP Bounces Off 2-Year Low

Crispr Therapeutics stock is up 3.8% to trade at $40.66 at last check. The security is bouncing from yesterday's two-year low of $39.05, while looking to snap a three-day losing streak. The 20-day moving average has been pressuring shares lower since late November, though, and so far in 2022 CRSP is down 46.4%.

 

VRTX on Track for Yearly Win

Boasting a 32.5% year-to-date lead, VRTX is up 2% at $291.47 this afternoon. Though the equity has cooled off from its Dec. 8, record high of $324.75, the $285 level seems to have emerged as a floor. Shares also still have long-time support from the 200-day moving average.
 
2023 could also mark the approval of Crispr's gene-editing therapy, so CRSP and sector peer Vertex Pharmaceuticals (VRTX) are certainly ones to watch in the biotech space for 2023.
 

 

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