In this article, we discuss 5 pharmaceutical stocks to buy according to Lawrence Hawkins’ Prosight Capital. If you want to read our detailed analysis of Hawkins’ history, investment philosophy, and hedge fund performance, go directly to the 10 Pharmaceutical Stocks to Buy According to Lawrence Hawkins’ Prosight Capital.
5. Aldeyra Therapeutics, Inc. (NASDAQ:ALDX)
Prosight Capital Stake Value: $6.7 million
Percentage of Prosight Capital’s 13F Portfolio: 4.21%
No. of Hedge Fund Holders: 18
Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) is a biotechnology company based in Lexington, Massachusetts and it ranks fifth on the list of 10 pharmaceutical stocks to buy according to Lawrence Hawkins’ Prosight Capital. The company’s prime focus is to develop immune-modulating therapies for the treatment of ocular and systemic disorders. Reproxalap is the company’s principal product. In the second quarter of 2021, Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) reported an EPS of -$0.28, missing estimates by $0.03.
Hawkins’ Prosight Capital owns 595,239 shares worth $6.7 million in Aldeyra Therapeutics, Inc. (NASDAQ:ALDX). This represents 4.21% of the total holdings of Prosight Capital. The hedge fund increased stake in the company by 26% during the second quarter of 2021 compared to the first quarter.
At the end of the second quarter of 2021, 18 hedge funds in the database of Insider Monkey held stakes worth $189 million in Aldeyra Therapeutics, Inc. (NASDAQ:ALDX), up from 17 the preceding quarter worth $153.9 million.
4. Cue Biopharma, Inc. (NASDAQ:CUE)
Prosight Capital Stake Value: $7.3 million
Percentage of Prosight Capital’s 13F Portfolio: 4.59%
No. of Hedge Fund Holders: 15
Ranked fourth on the list of 10 pharmaceutical stocks to buy according to Lawrence Hawkins’ Prosight Capital is Cue Biopharma, Inc. (NASDAQ:CUE). It is headquartered in Massachusetts, United States. This clinical-stage biopharmaceutical firm is developing a new class of injectable biologics that precisely engage and control targeted T cells within the body to treat cancer and autoimmune diseases. Hawkins’ Prosight Capital increased stake in Cue Biopharma, Inc. (NASDAQ:CUE) by 14% during the second quarter of 2021 compared to the first quarter.
In the second quarter of 2021, Cue Biopharma, Inc. (NASDAQ:CUE) reported an EPS of -$0.33, beating estimates by $0.05. The company’s revenue in the second quarter came in at $2.73 million, an increase of 152.8 % year over year, and beat revenue estimates by $1.69 million.
At the end of the second quarter of 2021, 15 hedge funds in the database of Insider Monkey held stakes worth $101.3 million in Cue Biopharma, Inc. (NASDAQ:CUE), up from 14 the preceding quarter worth $106.5 million.
3. Haemonetics Corporation (NYSE:HAE)
Prosight Capital Stake Value: $8.9 million
Percentage of Prosight Capital’s 13F Portfolio: 5.58%
No. of Hedge Fund Holders: 30
Haemonetics Corporation (NYSE:HAE), headquartered in Boston, Massachusetts, is ranked third on the list of 10 pharmaceutical stocks to buy according to Lawrence Hawkins’ Prosight Capital. The company creates, manufactures and sells automated blood processing equipment.
Hawkins’ Prosight Capital owns 134,000 shares worth $8.9 million in Haemonetics Corporation (NYSE:HAE) which represents 5.58% of Hawkins’ 13F portfolio.
At the end of the second quarter of 2021, 30 hedge funds in the database of Insider Monkey held stakes worth $392.9 million in Haemonetics Corporation (NYSE:HAE), down from 37 the preceding quarter worth $585.5 million.
2. Arena Pharmaceuticals, Inc. (NASDAQ:ARNA)
Prosight Capital Stake Value: $9 million
Percentage of Prosight Capital’s 13F Portfolio: 5.84%
No. of Hedge Fund Holders: 34
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA), headquartered in San Diego, California, is a biopharmaceutical company with a market cap of $3.6 billion. The firm provides transformational medications with improved pharmacology and pharmacokinetics. In the second quarter of 2021, Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) reported an EPS of -$2.40, missing estimates by $0.22.
According to latest security filings, Hawkins’ Prosight Capital increased stake in Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) by 30% during the second quarter of 2021 compared to the first quarter. The company represents 5.84% of the total investment portfolio of the hedge fund at the end of the second quarter of 2021. Our data shows that VenBio Select Advisor is one of the biggest stakeholders in Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) with 4 million shares worth $277.9 million.
On August 10, investment advisory Cantor Fitzgerald lowered its price target on Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) to $93 from $100, keeping an Overweight rating on the shares. Alethia Young, an analyst at the firm, added that she anticipates many catalysts in the pipeline over the next 12-18 months that could propel the stock far higher from present levels.
At the end of the second quarter of 2021, 34 hedge funds in the database of Insider Monkey held stakes worth $756.6 million in Arena Pharmaceuticals, Inc. (NASDAQ:ARNA), up from 33 the preceding quarter worth $822.6 million.
1. Prothena Corporation plc (NASDAQ:PRTA)
Prosight Capital Stake Value: $21.7 million
Percentage of Prosight Capital’s 13F Portfolio: 13.56%
No. of Hedge Fund Holders: 20
Ranked first on the list of 10 pharmaceutical stocks to buy according to Lawrence Hawkins’ Prosight Capital is Prothena Corporation plc (NASDAQ:PRTA). It is a late-stage clinical firm located in Ireland. The company’s research and development efforts are focused on the discovery and development of new antibodies for the treatment of a variety of disorders involving protein misfolding and cell adhesion.
Hawkins’ Prosight Capital owns 422,000 shares worth $21.7 million in Prothena Corporation plc (NASDAQ:PRTA), which makes up 13.56% of Hawkins’ 13F portfolio.
On September 30, RBC Capital analyst Kennen MacKay kept an Outperform rating on Prothena Corporation plc (NASDAQ:PRTA) stock with an increase in price target to $82 from $59.
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