In this piece, we will take a look at the five most profitable biotechnology stocks to buy today. If you want to take a deeper look at how biotechnology is one of the most advanced sectors these days, then check out 11 Most Profitable Biotech Stocks Today.
5. AbbVie Inc. (NYSE:ABBV)
Latest TTM Net Income Figures: $11.8 billion
AbbVie Inc. (NYSE:ABBV) is an American firm headquartered in Chicago, Illinois. The company is currently developing cancer and immune system biotechnology products by using mRNA technologies.
Insider Monkey took a look at 910 hedge funds for their Q2 2023 shareholdings and discovered that 74 had bought AbbVie Inc. (NYSE:ABBV)’s shares. Out of these, the firm’s largest shareholder is Ken Griffin’s Citadel Investment Group through an investment worth $260 million.
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Follow Abbvie Inc. (NYSE:ABBV)
4. Merck & Co., Inc. (NYSE:MRK)
Latest TTM Net Income Figures: $14.5 billion
Merck & Co., Inc. (NYSE:MRK) is one of the largest healthcare companies in the world. Its scale and scope enabled it to announce a big biotechnology acquisition in March, when Merck & Co., Inc. (NYSE:MRK) revealed that it will acquire a firm that develops immune system treatments for a price tag of $10.8 billion.
By the end of this year’s second quarter, 78 out of the 910 hedge funds profiled by Insider Monkey had owned the firm’s shares. Merck & Co., Inc. (NYSE:MRK)’s biggest hedge fund investor is Ken Fisher’s Fisher Asset Management since it owns 12.6 million shares that are worth $1.4 billion.
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Follow Merck & Co. Inc. (NYSE:MRK)
3. Roche Holding AG (OTCMKTS:RHHBY)
Latest TTM Net Income Figures: $16.55 billion
Roche Holding AG (OTCMKTS:RHHBY) is a Swiss company that was set up in 1896. The firm announced a $2.8 billion deal in July when it entered into an agreement with a biotechnology firm to develop treatments for blood pressure disorders. The agreement will see Roche Holding AG (OTCMKTS:RHHBY) acquire the rights to a hypertension drug for $310 million and promise additional payments based on development milestones.
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Follow Roche Holdings Ltd-Spons Adr (OTCMKTS:RHHBY)
2. Johnson & Johnson (NYSE:JNJ)
Latest TTM Net Income Figures: $17.9 billion
Johnson & Johnson (NYSE:JNJ) is another global healthcare giant. The firm is a key player in the biotechnology market through its subsidiary Janssen Biotech which develops treatments for cancer, heart diseases, immune system disorders, and other ailments. Even as other big pharma firms falter, Johnson & Johnson (NYSE:JNJ) is doing quite well and has beaten analyst EPS estimates in all four of its latest quarters.
Insider Monkey dug through 910 hedge funds for their June quarter of 2023 investments and discovered that 88 had invested in Johnson & Johnson (NYSE:JNJ). Ken Fisher’s Fisher Asset Management is the firm’s biggest hedge fund investor, through a stake worth $1.1 billion.
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Follow Johnson & Johnson (NYSE:JNJ)
1. Pfizer Inc. (NYSE:PFE)
Latest TTM Net Income Figures: $31.4 billion
Pfizer Inc. (NYSE:PFE) is an American company based in New York, New York. The firm announced a $50 million investment in July in a biotechnology incubation effort which will also benefit from Pfizer Inc. (NYSE:PFE)’s ability to rapidly commercialize products.
73 out of the 910 hedge funds part of Insider Monkey’s Q2 2023 database have held a stake in the company. Pfizer Inc. (NYSE:PFE)’s largest stakeholder out of these is Jim Simons’ Renaissance Technologies since it owns $308 million worth of shares.
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Follow Pfizer Inc (NYSE:PFE)
Disclosure: None. You can also take a look at Bill Gates Stock Portfolio: August 2023 Update and 15 Worst Performing Healthcare Stocks in 2023.
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