5 Best Pharmaceutical Stocks to Buy According to Steven Boyd’s Armistice Capital

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1. Incyte Corporation (NASDAQ:INCY)

Armistice Capital’s Stake Value: $151,940,000

Percentage of Armistice Capital’s 13F Portfolio: 2.65%

Number of Hedge Fund Holders: 29

Wilmington, Delaware-based Incyte Corporation (NASDAQ:INCY) is global biopharmaceutical company focused on the discovery, development, and commercialization of novel medicines across Oncology and Inflammation & Autoimmunity.

Steven Boyd’s Armistice Capital holds 2,000,000 shares of Incyte Corporation (NASDAQ:INCY), accounting for 2.65% of its 13F portfolio, as of Q2 2022.

On August 26, Incyte Corporation (NASDAQ:INCY) announced that it had received FDA approval for Pemazyre for the treatment of adults with relapsed or refractory myeloid/lymphoid neoplasms (MLNs) with FGFR1 rearrangement. MLNs are extremely rare and aggressive blood cancers.

As of Q2 2022, Incyte Corporation (NASDAQ:INCY) shares are held by 29 out of the 895 hedge funds tracked by Insider Monkey, with a total value of $4 billion. Baker Bros. Advisors was the largest hedge fund shareholder with ownership of 36.2 million shares valued at $2.7 billion.

You may also like to read 10 Best Multibagger Stocks to Buy Now and Jim Cramer is Recommending These 5 High-Yield Dividend Stocks

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