President Donald Trump speaks in the Rose Garden after introducing a new point-of-care COVID-19 test kit developed by Abbott Labs at the White House on March 30, 2020 in Washington, DC.
Win McNamee | Getty Images
A handful of drug companies are on the front lines of fighting the deadly coronavirus and Wall Street is watching closely for which stocks will bank the breakthroughs.
CNBC’s Covid-19 Testing & Treatments Index is equal-weighed and currently comprised of 29 companies that are working on testing and treating the novel coronavirus. Its components are a mixture of pharmaceutical and biotechnology companies ranging from Biogen to Gilead Sciences. Its largest components by market value are Johnson & Johnson, Pfizer, Roche and Novartis.
The index has rallied more than 15% in the past month, outperforming the S&P 500.
To find Wall Street’s favorite companies working on a treatment, CNBC used FactSet to screen through the Covid-19 Testing & Treatments index for the ten stocks with the most upside to their 12-month price target. Plus, at least half of the analysts covering the stocks must recommend buying them.
Take a look at the drug companies that Wall Street believes will pay off the most for investors.