5 Best Cancer Stocks To Buy Now

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

Number of Hedge Fund Holders: 78

Merck & Co., Inc. (NYSE:MRK) is a global healthcare company with two primary segments – Pharmaceutical and Animal Health. Within the Pharmaceutical segment, the company provides a range of human health pharmaceutical products covering oncology, hospital acute care, immunology, neuroscience, virology, cardiovascular, diabetes, and vaccines. Merck & Co., Inc. (NYSE:MRK) is one of the top cancer stocks. On September 22, Merck & Co., Inc. (NYSE:MRK) reported successful results in a Phase 3 clinical trial for its anti-PD-1 therapy Keytruda when used in combination with Seagen Inc. (NASDAQ:SGEN)’s antibody-drug conjugate Padcev. This combination treatment demonstrated positive outcomes for patients with bladder cancer.

According to Insider Monkey’s second quarter database, 78 hedge funds were bullish on Merck & Co., Inc. (NYSE:MRK), an increase from 75 funds in the last quarter. Cliff Asness’ AQR Capital Management held the largest position in the company, with approximately 2.91 million shares valued at $331.84 million.

Carillon Eagle Growth & Income Fund made the following comment about Merck & Co., Inc. (NYSE:MRK) in its Q2 2023 investor letter:

“Merck & Co., Inc. (NYSE:MRK) presented positive clinical data for a new drug in its oncology pipeline, announced an acquisition that was viewed favorably by investors, and reported strong first-quarter financial results while also increasing its earnings guidance for 2023.”

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