5 Pharma Companies Making Treatment for Opioid Overdose

1. Pfizer Inc. (NYSE: PFE)

Number of Hedge Fund Holders: 65    

Pfizer Inc. (NYSE: PFE) is ranked first on our list of 10 pharma companies making treatment for opioid overdose. The company makes and sells pharmaceutical products and is based in New York. Amid reports of an increase in drug overdose deaths in the US due to the COVID-19 lockdowns, the company pledged in April this year to donate more than 1 million doses of  naloxone, a drug developed by firm that saves lives by reversing opioid overdoses, to California-based non-profit group Direct Relief. 

On July 30, investment advisory Mizuho kept a Neutral rating on Pfizer Inc. (NYSE: PFE) stock but raised the price target to $43 from $42, noting that the firm delivered strong earnings in the second quarter that easily beat market expectations. 

At the end of the first quarter of 2021, 65 hedge funds in the database of Insider Monkey held stakes worth $2 billion in Pfizer Inc. (NYSE: PFE), up from 63 in the preceding quarter worth $1.8 billion.

In its Q1 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Pfizer Inc. (NYSE: PFE) was one of them. Here is what the fund said:

“Our underweights in health care and staples contributed to relative performance during the period. As we continue to focus the portfolio on high-conviction ideas, we sold Pfizer in late 2020, in the health care sector.”

You can also take a peek at 10 Best Medical Stocks Under $10 and 10 Best Stocks to Buy According to Senvest Management.

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