2 COVID stocks that could soon double

2 COVID stocks that could soon double

Because anything can happen in the near term, claiming that buying a stock is a surefire way to double your money quickly is ridiculous. Investors, on the other hand, are bullish on these three health-care companies, and there are reasons to be enthusiastic in the short term.

Continue reading to learn why Novavax ( NASDAQ: NVAX ) and InMode ( NASDAQ: INMD ) are expected to have a successful year in 2021.

Novavax’s stock will rise in 2021 due to a number of factors.

2 COVID stocks that could soon double

The stock of Novavax has already doubled in value this year, rising from $112 in January to $233 this week. However, by the end of the year, it will have doubled.

BioNTech has a market value of $79 billion, whereas Moderna has a market capitalization of $169 billion. Meanwhile, Novavax is a steal at $17 billion in market capitalization. The distinction is that both COVID-19 vaccines are now on the market for mRNA biotech, whilst Novavax is still waiting for its initial emergency use approval. Stock levels will surge once government officials allow Novavax to sell the COVID-19 vaccine.

The vast majority of people on the planet are still unvaccinated. Novavax anticipates having 2 billion vaccine doses ready for distribution by 2022. Furthermore, the biotechnology firm has numerous agreements to provide various areas throughout the world, including 100 million doses for the United States, 150 million doses for Japan, 200 million doses for Europe, and over 1 billion doses for developing countries.

The US paid $1.3 billion in advance for 100 million doses of the company’s experimental vaccine. This works out to be $13 per dose. Although the financial details of the various sales contracts have yet to be released, Japan and Europe are expected to pay more, while developing-country deals are expected to be discounted. It’s probable that Novavax’s earnings may beat its present market value in the coming year.

As the company’s vaccine wins global approval in the fourth quarter, Novavax’s stock will rise. Novavax’s candidate vaccine will be popular as a booster vaccination as well as a first vaccine for most unvaccinated people around the world. In the race to combine the COVID-19 and flu vaccinations, Novavax is a front-runner. The company has just started a combined investigation in Australia with 640 individuals who were inoculated against both diseases with a single vaccine.

As the world reopens, the stock of InMode will climb.

The aesthetic beauty sector is projected to expand as the world reopens and people feel more comfortable coming together. InMode is a well-known and self-described global leader in minimally invasive cosmetic and wellness procedures.

The company sells a body contouring system that incorporates medical devices and related energy-generating consumables. Cosmetic surgeons, dermatologists, gynecologists, ENT physicians, and ophthalmologists are among those that use InMode procedures, which claim to be more durable than laser treatments and less intrusive than traditional body modeling procedures like liposuction.

And this $5.2 billion cosmetics corporation is on full throttle. InMode reported record revenue of $87.3 million in the most recent quarter, up 184 percent from the second quarter of 2020. Total revenues outside of the United States were $30.9 million in the second quarter, more than tripling from the previous quarter. This strong international increase accounted for 35% of total revenues, up from 22% in the second quarter of 2020. The group already operates in 68 countries and has plenty of space to grow.

Consumers are seeking remedies that have been postponed due to COVID-19 as the world gradually returns to normal. “We have a great demand,” Chief Medical Officer Spero Theodorou said during a recent conference call.

“More than a third of new patients have never undergone any type of aesthetic procedure,” Theodorou added. Despite the COVID-19 outbreak, this demonstrates that InMode has grown a market that is expected to reach $6.2 billion by 2020. InMode has plenty of room to grow in that market, which is expected to rise at a 7.2 percent compound annual growth rate by 2026.

This cosmetic gadget maker is expected to grow as COVID-19 deteriorates. Despite the fact that InMode’s stock has surged by more than 180 percent since the beginning of 2021, the company’s business plan is robust. InMode is already profitable, with adjusted diluted earnings per share of $1.02 in the second quarter, compared to $0.24 per diluted share in the same quarter of 2020. InMode appears to be on track for another year of double-digit growth.

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