5 Best Biotech Stocks To Buy According To Hedge Funds

In this piece, we will take a look at five best biotechnology stocks to buy according to hedge funds. For more stocks, head on over to 14 Best Biotech Stocks To Buy According To Hedge Funds.

5. Eli Lilly and Company (NYSE:LLY)

Number of Hedge Fund Investors In Q1 2023: 72

Eli Lilly and Company (NYSE:LLY) is a major pharmaceutical company in the U.S. The firm makes medicines and treatments for several diseases such as arthritis, cancers, anxiety disorders, and other diseases. It also has partnerships with several biotechnology companies.

By the end of this year’s first quarter, 72 of the 943 hedge funds part of Insider Monkey’s database had held a stake in the company. Eli Lilly and Company (NYSE:LLY)’s largest hedge fund investor is Ken Fisher’s Fisher Asset Management since it owns 4.1 million shares that are worth $1.4 billion.

4. Pfizer Inc. (NYSE:PFE)

Number of Hedge Fund Investors In Q1 2023: 73

Pfizer Inc. (NYSE:PFE) is another pharmaceutical giant. One of the firm’s most famous and successful biotechnology products was its coronavirus vaccine developed with mRNA technology. Pfizer Inc. (NYSE:PFE) was set up in 1849 and is based in New York, New York.

73 of the 943 hedge funds polled by Insider Monkey’s database had bought Pfizer Inc. (NYSE:PFE)’s shares as of March 2023. Its largest hedge fund investor is Jim Simons’ Renaissance Technologies since it owns 12.1 million shares that are worth $495 million.

3. AbbVie Inc. (NYSE:ABBV)

Number of Hedge Fund Investors In Q1 2023: 75

AbbVie Inc. (NYSE:ABBV) is an American firm based in Chicago, Illinois. The firm is developing cancer and immune system disorder treatments with mRNA and has biotechnology subsidiaries as well.

Insider Monkey dug through 943 hedge fund portfolios for this year’s first quarter to find 0ut that 75 had invested in the firm. AbbVie Inc. (NYSE:ABBV)’s largest investor in our database is Ken Griffin’s Citadel Investment Group with a $360 million stake.

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

Number of Hedge Fund Investors In Q1 2023: 75

Merck & Co., Inc. (NYSE:MRK) is a healthcare company headquartered in Rahway, New Jersey. The firm provides products and testing services to the biotechnology and biopharmaceutical industries. It has also invested in biotechnology development facilities.

75 of the 943 hedge funds part of Insider Monkey’s database had held a stake in Merck & Co., Inc. (NYSE:MRK) during Q1 2023. Out of. these, the firm’s largest shareholder is Ken Fisher’s Fisher Asset Management with a $1.3 billion investment.

1. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Investors In Q1 2023: 86

Johnson & Johnson (NYSE:JNJ) is one of the oldest healthcare companies in the world. It has several biotechnology subsidiaries such as Janssen Biotech and Momenta Pharmaceuticals. Johnson & Johnson (NYSE:JNJ) was set up in 1886 and it is headquartered in New Brunswick, New Jersey.

Insider Monkey’s March 2023 survey covering 943 hedge funds outlined that 86 had bought the firm’s shares. Johnson & Johnson (NYSE:JNJ)’s largest hedge fund investor is Ken Fisher’s Fisher Asset Management since it owns 6.2 million shares that are worth $967 million.

Disclosure: None. You can also take a look at 15 Stocks Warren Buffett Sold and 25 Countries with the Highest Debt to GDP Ratios.

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