5 Best Immunology Stocks to Invest In

2. Biogen Inc. (NASDAQ:BIIB)

Number of Hedge Fund Holders: 70     

Biogen Inc. (NASDAQ:BIIB) discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases. On October 10, Biogen revealed that the first patient has been dosed in the global clinical study, AMETHYST. The Phase 2/3 study will evaluate the clinical efficacy and assess the safety of litifilimab (also known as BIIB059), a first-in-class, humanized IgG1 monoclonal antibody (mAb) targeting blood dendritic cell antigen 2.

On December 1, Atlantic Equities analyst Steve Chesney maintained a Neutral rating on Biogen Inc. (NASDAQ:BIIB) stock and raised the price target to $295 from $220, noting that lecanemab full data presentation, given the consistency of the efficacy and lack of statistical wrinkles in the reported results, has potential.

Among the hedge funds being tracked by Insider Monkey, Stamford-based investment firm Point72 Asset Management is a leading shareholder in Biogen Inc. (NASDAQ:BIIB) with 1.7 million shares worth more than $448 million.  

In its Q3 2022 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Biogen Inc. (NASDAQ:BIIB) was one of them. Here is what the fund said:

“Biogen Inc. (NASDAQ:BIIB) was the leading contributor among several biopharma names, boosted by positive, pivotal clinical data for its next-generation Alzheimer’s treatment Lecanemab. In a pivotal trial, the drug proved safe and efficacious in slowing the progression of Alzheimer’s disease.”