5 Healthcare Stocks to Buy According to Billionaire DE Shaw

1. Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

D E Shaw Stake Value: $311,017,000
Percentage of D E Shaw’s 13F Portfolio: 0.28%
Number of Hedge Fund Holders: 55

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) is a Boston, Massachusetts-based biopharmaceutical business. In December, RBC Capital analyst Brian Abrahams raised his price target on Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) to $265 from $250 and kept an “Outperform” rating on the shares.

The hedge fund chaired by D E Shaw holds close to 1.71 million shares in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) worth over $311.02 million. D E Shaw’s stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) shares increased by 121% in the third quarter of 2021.

With 1.89 million shares worth more than $343.10 million, New York-based investment company Renaissance Technologies is the largest stakeholder in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) among the hedge funds tracked by Insider Monkey.

In its second-quarter 2021 investor letter, Artisan Partners mentioned Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX). Here is what the fund said:

“Turnover in the portfolio was low in Q2, but we did initiate a position in biotechnology firm Vertex Pharmaceuticals. Vertex dominates the market for treatment of cystic fibrosis with limited competition. Shares were under pressure at the time of purchase, driven by recent regulatory hurdles and Vertex’s decision not to pursue late-stage development of VX-864 after an unexpectedly unfavorable outcome. VX-864 is designed to treat alpha-1 antitrypsin deficiency (AATD), which is an inherited disorder with a strong correlation to pediatric liver disease. Irrespective of Vertex’s AATD pipeline, the company has nearly two decades of patent protection remaining for its cystic fibrosis franchise. Management maintains a healthy reserve of cash and is focusing on research and development. We believe near-term growth is likely to be driven by Vertex’s expanding geographic presence and expansion of medicines to lower age groups with longterm gains rising from the company’s diversifying pipeline.”

You can also take a peek at 10 Healthcare Stocks to Buy According to Mario Gabelli and 10 Best Healthcare Stocks to Buy According to Matthew Halbower’s Pentwater Capital Management

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