In this article, we discuss the 5 biotech stocks popular on Reddit. If you want to read our detailed analysis of these stocks, go directly to the 11 Biotech Stocks Popular On Reddit.
5. Agenus Inc. (NASDAQ: AGEN)
Number of Hedge Fund Holders: 12
Price as of August 16: $5.91
Agenus Inc. (NASDAQ: AGEN) ranks 5th on the list of 11 biotech stocks popular on Reddit. The Massachusetts-based biotech firm develops immuno-oncology therapeutics. The company was founded in 1994 and was formerly called Antigenics Inc.
Agenus Inc. (NASDAQ: AGEN) saw its stock rise by 22% on May 18 after the company announced an exclusive partnership with drugmaker Bristol-Myers Squibb Company (NYSE: BMY) that could be worth more than $1.5 billion. In July, Agenus Inc. (NASDAQ: AGEN) received $200 million as part of its agreement with Bristol-Myers Squibb Company (NYSE: BMY) for bispecific antibody development. The stock has gained 50% in the last three months.
The company has a market cap of $1.37 billion. In the second quarter of 2021, Agenus Inc. (NASDAQ: AGEN) reported an EPS of -$0.37. The company’s revenue in the second quarter was $10.37 million. At the end of the second quarter, the company has a cash balance of $74 million.
At the end of the first quarter of 2021, 12 hedge funds in the database of Insider Monkey held stakes worth $48.9 million in Agenus Inc. (NASDAQ: AGEN), up from 11 in the preceding quarter worth $49.4 million.
4. Fulcrum Therapeutics, Inc. (NASDAQ: FULC)
Number of Hedge Fund Holders: 17
Price as of August 16: $21.74
Fulcrum Therapeutics, Inc. (NASDAQ: FULC) is a biotech company based in Massachusetts that ranks 4th on the list of 11 biotech stocks popular on Reddit. The clinical-stage biopharma company specializes in drug development for genetic disorders such as sickle cell anemia and facioscapulohumeral muscular dystrophy.
The stock has gained over 125% in the previous month following positive early-stage results for sickle cell disease therapy. Fulcrum Therapeutics, Inc. (NASDAQ: FULC) announced on August 10 that it will begin enrolling sickle cell patients in a Phase 1b clinical trial in the fourth quarter of 2021.
On August 11, Morgan Stanley analyst Matthew Harrison upgraded Fulcrum Therapeutics, Inc. (NASDAQ: FULC) from Equal-Weight to Overweight and increased the firm’s price target to $34 per share from the previous $12, claiming that the company’s market value could double driven by the company’s sickle cell disease drug portfolio.
The company has a market cap of $711 million. In the second quarter of 2021, Fulcrum Therapeutics, Inc. (NASDAQ: FULC) reported an EPS of -$0.60, beating estimates by $0.05. The company’s revenue in the second quarter came in at $4.38 million, beating revenue estimates by $2.46 million.
At the end of the first quarter of 2021, 17 hedge funds in the database of Insider Monkey held stakes worth $86.3 million in Fulcrum Therapeutics, Inc. (NASDAQ: FULC).
3. Axsome Therapeutics, Inc. (NASDAQ: AXSM)
Number of Hedge Fund Holders: 17
Price as of August 16: $21.22
Axsome Therapeutics, Inc. (NASDAQ: AXSM) ranks 3rd on the list of 11 biotech stocks popular on Reddit. The New York-based biotech firm develops treatments for central nervous system disorders including Alzheimer’s disease and depression.
On August 10, Truist analyst Joon Lee maintained a Buy rating and a $160 price target on Axsome Therapeutics, Inc. (NASDAQ: AXSM).
The company has a market cap of $799 million. In the second quarter of 2021, Axsome Therapeutics, Inc. (NASDAQ: AXSM) reported an EPS of -$0.86, beating estimates by $0.02. At the end of the second quarter, Axsome Therapeutics, Inc. (NASDAQ: AXSM) had a cash balance of $141.2 million.
At the end of the first quarter of 2021, 17 hedge funds in the database of Insider Monkey held stakes worth $354 million in Axsome Therapeutics, Inc. (NASDAQ: AXSM), down from 22 in the preceding quarter worth $523 million.
2. BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX)
Number of Hedge Fund Holders: 22
Price as of August 16: $15.27
BioCryst Pharmaceuticals, Inc. is (NASDAQ: BCRX) is a biotech company based in North Carolina that ranks 2nd on the list of 11 biotech stocks popular on Reddit. BioCryst Pharmaceuticals, Inc. is (NASDAQ: BCRX) markets Orladeyo, an FDA-approved orally ingested medication that prevents attacks of hereditary angioedema in patients aged 12 and older.
On August 6, H.C. Wainwright analyst Andrew Fein maintained a Buy rating on BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) and increased the firm’s price target to $30 per share from $18, citing Orladeyo potential.
The company has a market cap of $2.7 billion. In the second quarter of 2021, BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) reported an EPS of -$0.24, beating estimates by $0.01. The company’s second-quarter revenue came in at $50 million, up from $2.9 million in the same quarter in 2020. The stock has gained 104%, year to date.
At the end of the first quarter of 2021, 22 hedge funds in the database of Insider Monkey held stakes worth $348 million in BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX), down from 26 in the preceding quarter worth $343 million.
1. Amarin Corporation plc (NASDAQ: AMRN)
Number of Hedge Fund Holders: 22
Price as of August 16: $5.29
Topping the list of 11 biotech stocks popular on Reddit is Amarin Corporation plc (NASDAQ: AMRN). The biopharmaceutical firm based in Dublin sells cardiovascular therapeutics in the US. Amarin Corporation plc (NASDAQ: AMRN) developed Vascepa, an omega-3 fatty acid medication that reduces fat levels in adult patients with severe hypertriglyceridemia.
On August 16, CEO Karim Mikhail announced that the initial readout of the investigator-initiated study PREPARE-IT 1 will take place during the ESC Congress 2021 in the last week of August. The trial is looking into the possible benefits of Vascepa for COVID-19 prevention in people who are at risk of infection. Shares of Amarin Corporation plc (NASDAQ: AMRN) climbed 9.1% in the last five days.
On August 5, Piper Sandler analyst Yasmeen Rahimi kept an Overweight rating on Amarin Corporation plc (NASDAQ: AMRN) with a price target of $19 per share following strong Q2 results. Shares of Amarin Corporation plc (NASDAQ: AMRN) increased 23% in the past month.
The company has a market cap of $2.1 billion. In the second quarter of 2021, Amarin Corporation plc (NASDAQ: AMRN) reported an EPS of $0.02, beating estimates by $0.05. The company’s second-quarter revenue came in at $154.5 million, an increase of 14% year over year and beating revenue estimates by $1.80 million.
At the end of the first quarter of 2021, 22 hedge funds in the database of Insider Monkey held stakes worth $444 million in Amarin Corporation plc (NASDAQ: AMRN), down from 24 in the preceding quarter worth $400 million.
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