5 Best Diabetes Stocks To Buy Now

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

Number of Hedge Fund Holders: 79

Merck & Co., Inc. (NYSE:MRK) is a pharmaceutical company based in New Jersey that develops and sells treatments for diabetes and other chronic diseases. The company’s pioneer anti-diabetes medication, Januvia, received its FDA approval in 2006. 

In addition to Merck & Co., Inc.’s (NYSE:MRK) expanding line of medications, the FDA approved Steglatro, a type 2 diabetes medication co-developed with Pfizer Inc. (NYSE:PFE), in 2017.

On November 1, Argus analyst David Toung upgraded Merck & Co., Inc. (NYSE:MRK) to Buy from Hold with a price target of $110.

Of the 873 elite funds tracked by Insider Monkey, 79 were long Merck & Co., Inc. (NYSE:MRK) at the end of June. Washington-based investment firm Fisher Asset Management is the leading stakeholder of the company with 10.3 million shares worth $802 million.