In this article, we discuss 5 Best Biotech Stocks To Buy Now. If you want to read our detailed analysis on the methodology, risk/reward, industry for our list, go directly to 10 Best Biotech Stocks To Buy Now.
5. Seagen Inc. (NASDAQ:SGEN)
Number of Hedge Fund Holders: 54
Seagen Inc. (NASDAQ:SGEN) is a biotechnology company, headquartered in Bothell, Washington. The company specializes in antibody-based drug therapies for the treatment of cancer. The company’s strong therapy areas include Hodgkin’s lymphoma, urothelial cancer, breast cancer, and cervical cancer. The firm has a market cap of close to $28.59 billion with estimated annual revenue of $1.84 billion.
Gregory Renza of RBC Capital increased Seagen Inc. (NASDAQ:SGEN)’s share price target to $188 from $179 in August 2022. According to the analyst, the recent retreat following the arbitration verdict has created a nearer-term opportunity for investors. Out of the 912 hedge funds part of Insider Monkey’s survey for this year’s second quarter, 54 had invested in the firm.
Despite the reports of Merck & Co (MRK.N) talks with Seagen Inc. (NASDAQ:SGEN) hitting an obstacle over price the company revealed earnings per share of -$0.73 and beat EPS estimate by $0.16. The revenue reported was $497.50 million.
4. Amgen Inc. (NASDAQ:AMGN)
Number of Hedge Fund Holders: 55
Amgen Inc. (NASDAQ:AMGN) is an American multinational biotech company committed to developing innovative human therapeutics. The company’s focus therapy area is serious diseases including but not limited to, oncology, cardiovascular diseases, neurology, and nephrology.
Owing to its diverse portfolio of therapy areas, the firm has a market cap of close to $127.51 billion and estimated annual revenue near $26.16 billion. As of August 26, 2022, Two Sigma Advisors is the largest stakeholder in our database in Amgen Inc. (NASDAQ:AMGN) with more than $1.6 billion shares worth $404.29 million.
ClearBridge Investments mentioned Amgen Inc. (NASDAQ:AMGN) in its Q3 2021 investor letter. Here is what the firm has to say:
“In health care, Amgen, a biotechnology company, has endured several pipeline setbacks recently, including a slow transition of its Lumakras treatment into first-line lung cancer, a slower than expected development of its treatment for myeloma as well as the company’s asthma treatment Tezepelumab missing its primary endpoint in a Phase III study. We remain positive on the stock, with Amgen’s investments in biosimilars and its pipeline part of our long-term thesis.”
3. Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN)
Number of Hedge Fund Holders: 58
Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN), is a biotech company that focuses on the late-stage clinical development of therapeutic drugs and devices. The company’s therapy areas include neurological diseases, especially uncommon conditions. The company’s recent acquisition by the pharma giant Pfizer Inc. (NYSE:PFE) has enabled it to make advancements in its neuroscience portfolio. In March 2022, the firm announced the acquisition of investigational products for the treatment of epilepsy.
The diversification of the neuroscience portfolio puts the firm in a strong position. The firm has a market cap of close to $10.65 billion and annual revenue near $215.08 million. As of August 26, 2022, Adage Capital Management is the largest stakeholder in Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN) worth $442.82 million.
Piper Sandler’s an analyst Christopher Raymond, downgraded Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN) from Overweight to Neutral with an unchanged price target of $149.
According to Insider Monkey’s Q2 data, Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN) was found in the public stock portfolios of 58 hedge funds, with collective stakes in the company worth $2.52 billion.
2. Gilead Sciences, Inc. (NASDAQ:GILD)
Number of Hedge Fund Holders: 59
Gilead Sciences, Inc. (NASDAQ:GILD) is a biotech firm with a research-based focus on the development, commercialization, and discovery of novel medications. The company has a strong portfolio in antiviral drugs and is also looking to expand its oncology segment. Phase 3 trials of breast cancer drug revealed increased survival by as much as 59%.
As of August 2022, Arrowstreet Capital owned $15.6 million shares in Gilead Sciences, Inc. (NASDAQ:GILD), valued at $968 million. The company made up 1.37% of the portfolio. At the end of Q2 2022, 59 hedge funds owned stakes in Gilead Sciences, Inc. (NASDAQ:GILD). The collective value of these stakes is over $3.99 billion.
1. BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)
Number of Hedge Fund Holders: 59
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN), a biotech firm with headquarters based in California, specializes in enzyme replacement therapies. At the end of Q2, 59 hedge funds were bullish on the company shares with $2.88 billion in aggregate positions. This shows improving investor sentiment from the previous quarter when 56 hedge funds owned stakes in the company.
Baker Bros. Advisors is the largest shareholder in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) and holds a stake worth $631.51 million in the company.
The European Commission recently approved roctaviantm (valoctocogene roxaparvovec), the first gene therapy for adults with severe hemophilia A. With a strong portfolio in bleeding disorders, BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has a market cap of close to $17.01 billion and estimated annual revenue near $2.12 billion.
You can also take a look at the 10 Best Websites To Research Stocks and 10 Best Undervalued Dividend Stocks to Buy Now.
