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2 High-Flying Vaccine Stocks with More Upside Potential By StockNews

© Reuters. 2 High-Flying Vaccine Stocks with More Upside Potential

With the advent of the COVID-19 omicron variant, vaccine developers are again the recipients of heightened investor attention. The success of Pfizer’s (PFE) and BioNTech’s (BNTX) COVID-19 vaccines has helped these stocks soar in price over the past few months, and they could continue gaining. So, we think it could be wise to add them to one’s portfolio now. Read on.Discovered only a few weeks ago, the COVID-19 omicron variant is now the dominant strain in the United States, accounting for roughly 73% of cases. The Biden administration has been taking steps to contain its spread. Last month, the White House’s COVID-19 response coordinator, Jeff Zients, said, “We’re working with Pfizer , Moderna (NASDAQ:), and (Johnson & Johnson) to develop contingency plans for modifications to vaccines or boosters if they’re needed.”

With the rapid spread of the new variant across several parts of the world, the demand for COVID-19 vaccines and booster shots is expected to increase significantly. According to a BCC Research report, the global market for vaccine technologies is expected to grow at a 7.6% CAGR over the next five years to $55.10 billion.

Therefore, we think it could be wise to bet on quality COVID-19 vaccine stocks Pfizer Inc. (NYSE:) and BioNTech SE (NASDAQ:). They have gained significantly in price, especially with the emergence of the omicron variant. And these stocks are expected to continue rallying in the coming months.

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