5 Cheap Rising Stocks to Buy

4. Sanofi (NASDAQ:SNY)

Number of Hedge Fund Holders: 34

French pharmaceutical company Sanofi (NASDAQ:SNY) is one of the undervalued rising stocks to buy. Sanofi (NASDAQ:SNY) has gained about 14% over the past 30 days through April 4.

In March, Sanofi (NASDAQ:SNY) and Regeneron Pharmaceuticals (NASDAQ:REGN) reported their drug Dupixent met the main goal and all key secondary goals of a phase 3 trial to treat adults who were current or former smokers with chronic obstructive pulmonary disease (COPD).

Recently, media reports suggested that Sanofi (NASDAQ:SNY) had begun the process to spin-off its consumer healthcare business in India.

As of the end of the last quarter of 2022, 34 hedge funds had stakes in Sanofi (NASDAQ:SNY). The net worth of these stakes was about $1.8 billion.

ClearBridge Investments made the following comment about Sanofi (NASDAQ:SNY) in its Q3 2022 investor letter:

“Health care proved to be the most challenging sector to navigate during the quarter, as several companies were subjected to elevated risk aversion due to possible litigation implications. Two of our top five largest individual detractors for the period were in the health care sector: Sanofi (NASDAQ:SNY) and Bayer (OTCPK:BAYZF). Sanofi, a French pharmaceutical and health care company, saw its share price fall after it was named as a co-defendant in a class action lawsuit alleging that Sanofi and other sellers of the heartburn medication Zantac failed to warn of the drug’s risk of containing a possible carcinogen.”