In this article, we will be taking a look at the 5 healthcare stocks to watch in light of Biden’s 60 Minutes interview. To read our detailed analysis of these stocks and Biden’s insights, you can go directly to see the 10 Healthcare Stocks to Watch in Light of Biden’s 60 Minutes Interview.
5. Pfizer Inc. (NYSE:PFE)
Number of Hedge Fund Holders: 70
Year-to-Date Performance: -21.57%
Pfizer Inc. (NYSE:PFE), a healthcare company, is one of the top COVID-19 vaccine makers in the world. It is based in New York, US.
JPMorgan’s Chris Schott holds a Neutral rating on Pfizer Inc. (NYSE:PFE) shares as of August 11.
Pfizer Inc. (NYSE:PFE) is one of the vaccine-makers in the red because of Biden’s interview. The stock has fallen 21.57% year to date and has a low EPS growth rate over the next three to five years, standing at -2.86%.
Pfizer Inc. (NYSE:PFE) had 70 funds long its stock in the second quarter. Their total stake value was $2.8 billion.
4. Dynavax Technologies Corporation (NASDAQ:DVAX)
Number of Hedge Fund Holders: 18
Year-to-Date Performance: -24.21%
Dynavax Technologies Corporation (NASDAQ:DVAX) is a biotech company based in EmeryVille, California. It works to develop and commercialize novel vaccines in the US.
Roy Buchanan at JMP Securities initiated coverage of Dynavax Technologies Corporation (NASDAQ:DVAX) shares on September 27 with an Outperform rating. The analyst also placed a $22 price target on the stock.
Dynavax Technologies Corporation (NASDAQ:DVAX) fell 24.21% year-to-date and 11.04% in the past six months. However, the company’s operating cash flow growth rate year-over-year stands at 45.28%.
Out of 895 funds tracked in the second quarter, 18 funds were long Dynavax Technologies Corporation (NASDAQ:DVAX), with a total stake value of $206 million. In comparison, 22 funds were long the stock in the previous quarter, with a total stake value of $191 million.
3. BioNTech SE (NASDAQ:BNTX)
Number of Hedge Fund Holders: 26
Year-to-Date Performance: -42.29%
BioNTech SE (NASDAQ:BNTX) is another biotech company on our list, developing immunotherapies for cancer and other infectious diseases, alongside vaccines. The company is based in Mainz, Germany.
A Market Perform rating was placed on BioNTech SE (NASDAQ:BNTX) shares on August 17, by analyst Yaron Werber at Cowen. The analyst also placed a $177 price target on the stock.
The day after Biden’s 60 Minutes interview, BioNTech SE (NASDAQ:BNTX) fell 9%. The stock has fallen 42.29% year-to-date and its EPS growth rate over the next three to five years stands at -40.41%.
BioNTech SE (NASDAQ:BNTX) was found among the 13F holdings of 26 funds in the second quarter. Their total stake value was $380 million.
Baron Funds, an asset management firm, mentioned BioNTech SE (NASDAQ:BNTX) in its third quarter 2021 investor letter. Here’s what the firm said:
“BioNTech SE is a leader in the emerging field of mRNA drugs, with additional programs in engineered cell therapies, antibodies, and immunomodulators. Shares performed well for the quarter. The COVID-19 vaccine rollout continues with the addition of a booster shot, and we believe the pandemic has been a strong proof point of the speed and efficacy of the mRNA platform. Beyond vaccines, we think BioNTech has potential to disrupt the biopharmaceutical space with a pipeline spanning oncology, infectious diseases, and rare diseases.”
2. Moderna, Inc. (NASDAQ:MRNA)
Number of Hedge Fund Holders: 45
Year-to-Date Performance: -48.03%
Moderna, Inc. (NASDAQ:MRNA) is a healthcare company working to develop messenger RNA therapeutics and vaccines. The company is based in Cambridge, Massachusetts.
Jasper Hellweg at Argus lowered his price target on Moderna, Inc. (NASDAQ:MRNA) shares on September 14 from $180 to $150. The analyst still holds a Buy rating on the stock.
On September 29, Moderna, Inc. (NASDAQ:MRNA) hit its 52-week low. The stock fell 9% a day after Biden’s interview. The company’s projected EPS growth is also negative, standing at -35.4%.
There were 45 funds long Moderna, Inc. (NASDAQ:MRNA) in the second quarter, and 41 funds long the stock in the previous quarter. Their total stake values were $2.6 billion and $3.8 billion, respectively.
1. Novavax, Inc. (NASDAQ:NVAX)
Number of Hedge Fund Holders: 25
Year-to-Date Performance: -86.28%
Novavax, Inc. (NASDAQ:NVAX) is a biotechnology company based in Gaithersburg, Maryland. It works to produce vaccines for the prevention of serious infectious diseases among more.
JPMorgan’s Eric Joseph downgraded shares of Novavax, Inc. (NASDAQ:NVAX) from Neutral to Underweight on September 22. The analyst also lowered his price target on the stock from $132 to $27.
Novavax, Inc. (NASDAQ:NVAX) also hit its 52-week low on September 29, and the stock has fallen by 86.28% year-to-date. The stock lost 7% right after Biden’s comments as well.
Our hedge fund data shows 25 funds long Novavax, Inc. (NASDAQ:NVAX) in the second quarter, with a total stake value of $255 million.
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