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3 Pharma Stocks Too Cheap to Ignore

Stock MarketsNov 29, 2021 06:31PM ET
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© Reuters. 3 Pharma Stocks Too Cheap to Ignore

As a new COVID-19 variant (omnicron) raises concerns worldwide, we think it could be wise to scoop up the shares of quality pharmaceutical stocks GlaxoSmithKline (NYSE:GSK), Teva Pharmaceutical (TEVA), and Eagle Pharmaceuticals (NASDAQ:EGRX) that look undervalued at their current price levels. These stocks each has an overall A (Strong Buy) or B (Buy) rating in our POWR Ratings system and an A grade for Value. Read on.Pharma stocks are once again at the fore, with fresh concerns over the new omicron COVID-19 variant. On November 21, 2021, Dr. Anthony Fauci warned that time was running short to prevent a “dangerous” resurgence of COVID-19 infections during the upcoming holiday season. His statements are deemed to have piqued investor interest in the pharma sector, as evidenced by the iShares U.S. Pharmaceuticals ETF’s (IHE) 2.5% returns over the past month.

In addition, with surging chronic diseases around the globe, the pharmaceuticals sector is expected to grow significantly. According to a Markets and Markets report, the global pharmaceutical drug delivery market is expected to reach $2.21 trillion by 2026, growing at a 5.9% CAGR.

Therefore, we think it could be wise to add fundamentally sound yet undervalued pharmaceutical stocks GlaxoSmithKline plc (GSK), Teva Pharmaceutical Industries Limited (NYSE:TEVA), and Eagle Pharmaceuticals, Inc. (EGRX) to one’s portfolio now. These stocks have an overall A (Strong Buy) or B (Buy) grade in our POWR Ratings system. They also have an A grade for Value.

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3 Pharma Stocks Too Cheap to Ignore

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