10 Best Immunotherapy Stocks to Buy Now

2. Pfizer Inc. (NYSE:PFE)

Number of Hedge Fund Holders: 84

Pfizer Inc. (NYSE:PFE) is a global pharmaceutical company known for its innovative medicines in areas like immunology, oncology, cardiology, and more. Immunotherapy is one of the main areas of interest within Pfizer Oncology, especially after the recent clinical successes of cancer immunotherapy.

After acquiring Seagen for $43 billion in 2023, Pfizer Inc. (NYSE:PFE) plans to develop eight potential blockbuster cancer treatments by 2030. Seagen’s antibody-drug conjugates, which target cancers like bladder cancer, are key to this strategy.

Alongside this strategic focus on oncology, Pfizer Inc. (NYSE:PFE) is also prioritizing cost savings through a manufacturing optimization program aimed at boosting efficiency and achieving $1.5 billion in savings by the end of 2027. The stock has received an average rating of Moderate Buy, making it one of the best immunotherapy stocks to buy now.

Here’s what Parnassus Investments said about Pfizer Inc. (NYSE:PFE) in its Q1 2024 investor letter:

“During the quarter, we added new positions in Pfizer Inc. (NYSE:PFE), NICE and Charter Communications. We purchased Pfizer to capture the potential upside from any turnaround following the COVID-induced boom-bust cycle of the last few years. Pfizer’s stock price sank by more than 40% in 2023 as COVID-19 vaccine revenues rolled off, providing an attractive entry point for us. The company completed its acquisition of Seagen, which should strengthen Pfizer’s pipeline in antibody-drug conjugates (ADC). Pfizer also offers an attractive dividend yield.”