5 Best Big Pharma Stocks to Buy Now

2. AbbVie Inc. (NYSE:ABBV)

Number of Hedge Fund Holders: 82

AbbVie Inc. (NYSE:ABBV) ranks second on the list of 10 best big pharma stocks to buy now. The Illinois-based pharmaceutical firm develops and sells medications for cancer, psoriasis, rheumatoid arthritis, Parkinson’s disease, and migraine. 

On September 8, JPMorgan analyst Chris Schott maintained an Overweight rating on AbbVie Inc. (NYSE:ABBV) with a price target of $140 per share. 

In the second quarter of 2021, AbbVie Inc. (NYSE:ABBV) reported an EPS of $3.11, beating estimates by $0.08. The company’s second-quarter revenue came in at $13.96 billion, up 33.9% year over year, and beat revenue estimates by $322.64 million. The stock has gained 23%, year to date.

At the end of the second quarter of 2021, 82 hedge funds in the database of Insider Monkey held stakes worth $5.35 billion in AbbVie Inc. (NYSE:ABBV), up from 72 in the previous quarter.

Out of the hedge funds being tracked by Insider Monkey, Massachusetts-based hedge fund firm Berkshire Hathaway is a leading shareholder in AbbVie Inc. (NYSE:ABBV) with 20,527,861 shares worth more than $2.31 billion.