Quidel Corporation (NASDAQ: QDEL) is the best way for investors to play the pandemic right now, says Oppenheimer’s Jared Holz. His bullish call is based on strong demand for COVID tests as Omicron continues to surge.
Highlights from Holz’ interview on CNBC’s ‘The Exchange’
QDEL has gained more than 30% since November 24th, when South Africa first reported the new, heavily mutated variant of the Coronavirus, but Holz sees further upside in the coming months. On CNBC’s “The Exchange”, he said:
What’s happening is an insane amount of testing. The lines are incredibly long at so many of these centres. Quidel makes a rapid test for at-home use that will be used in a big way from now until the foreseeable future. So, to me, it’s the most logical way to play the pandemic at this point.
Holz agreed the efficacy of these tests hadn’t improved much in recent months but reiterated that they were already “good enough” in detecting many variants of the Coronavirus, including Omicron.
What else does he like amidst the Omicron concerns?
Another name that he thinks could benefit from Omicron, considering what the health authorities report to be its symptoms, is Perrigo Company plc (NYSE: PRGO).
If Omicron is truly doing what most clinicians say it is, which is causing a mild to moderate cold or flu-like symptoms for the average patient, Perrigo should benefit with its over-the-counter cold and cough products. Given where the stock is trading, it looks very interesting to play this trend.
Shares of the Dublin-headquartered pharmaceutical company are down more than 10% for the year. In September, Perrigo set out to become the world leader in consumer self-care.
The post Here’s the best way for investors to play the pandemic right now appeared first on Invezz.