10 Best Cancer Stocks to Buy According to Hedge Funds

4. Merck & Co., Inc. (NYSE:MRK)

Number of Hedge Fund Holders: 86

Merck & Co., Inc. (NYSE:MRK) is a biopharmaceutical company that delivers health solutions that prevent and treat diseases in humans and animals. Its Pharmaceutical segment provides human vaccines and pharmaceutical products consisting of therapeutic and preventive agents. The company boasts over a decade of progress in cancer care and has three primary areas of focus in oncology research: immuno-oncology, tissue targeting, and precision molecular targeting.

Merck & Co., Inc.’s (NYSE:MRK) cancer immunotherapy drug Keytruda has been its most significant revenue driver over the past few years. It is on the path to reaching $30 billion in sales by 2026 and is seeing growth due to its use for additional cancer types and improved patient demand.

The drug is presently approved for different oncology indications in the US, and the company is in the process of seeking approval for most of the indications in other major international markets as well, such as Japan and the EU. Merck & Co., Inc. (NYSE:MRK) takes the fourth spot on our list of the 10 best cancer stocks to buy according to hedge funds.

GreensKeeper Asset Management, an investment management company, released its third-quarter investor letter. Here is what the fund said:

“Merck & Co., Inc. (NYSE:MRK) was our second-largest detractor this quarter, declining -8.3%. MRK’s leading HPV vaccine, GARDASIL 9, faced challenges internationally due to inventory buildup within its Chinese distributor, which is expected to reduce shipments for the remainder of 2024. Despite this short-term impact, the long-term outlook for GARDASIL 9 remains promising. Meanwhile, the company’s $27 billion Keytruda cancer juggernaut continues to grow at a healthy clip, powering earnings growth.”