5 Biotech and Pharma Stocks to Buy According to Billionaire Steve Cohen

3. AstraZeneca PLC (NASDAQ:AZN)

Point72 Asset Management’s Holdings: $146 million

Percentage of Point72 Asset Management’s Portfolio: 0.64%

Number of Hedge Fund Holders: 41

AstraZeneca PLC (NASDAQ:AZN) is a British medicine manufacturer that targets several sectors such as cancer, heart, respiratory and neuroscience diseases. It also sells a COVID-19 vaccine.

AstraZeneca PLC (NASDAQ:AZN) earned $9.8 billion in revenue and $1.08 in GAAP EPS in its third quarter, beating analyst estimates for both. In a November 2021 analyst note, Bryan Garnier set the company’s price target to GBp 10,500 and downgraded it to Buy.

Point72 Asset Management owned 2.4 million AstraZeneca PLC (NASDAQ:AZN) shares by the end of Q3 2021. These were worth $146 million and represented 0.64% of its portfolio. Additionally, by Q3 2021 end, 41 of the 867 hedge funds polled by Insider Monkey had holdings in the company.

AstraZeneca PLC (NASDAQ:AZN)’s biggest shareholder is Ken Fisher’s Fisher Asset Management who owns 19 million shares worth $1.1 billion.