8 Best Stocks Under $50 To Invest In Now

02. Pfizer Inc. (NYSE:PFE)

Number of Hedge Fund Holders: 84

Share Price as of September 27: $29.09 

Pfizer Inc. (NYSE:PFE) is a global leader in the pharmaceutical industry, renowned for its commitment to developing innovative medicines and vaccines that address critical health needs. Pfizer Inc. (NYSE:PFE) has demonstrated strong performance in its recent Q2 2024 earnings call, reporting earnings per share (EPS) of $0.60, surpassing expectations of $0.458. This marks a pivotal moment for the company, as it achieves year-over-year revenue growth for the first time since Q4 2022, highlighting its recovery from the pandemic-induced peaks in COVID-related revenues. With a solid foundation built on a diverse product portfolio and strategic acquisitions, Pfizer is well-positioned to sustain this momentum.

The company continues to advance its strategic priorities, particularly in oncology, where it is integrating Seagen’s transformative antibody-drug conjugates (ADCs) to expand its offerings. The successful performance of key oncology products, including Padcev and Xtandi, is expected to drive revenue growth. Additionally, the FDA’s full approval of Tivdak and the approval of Talzenna in combination with Xtandi reinforce Pfizer’s commitment to providing innovative cancer treatments. This focus is underscored by Pfizer Inc. (NYSE:PFE) goal of delivering eight or more blockbuster medicines by 2030, a target supported by a robust pipeline that includes promising candidates for obesity treatment and next-generation vaccines.

Pfizer Inc. (NYSE:PFE) financial metrics are equally compelling. The company reported a healthy balance sheet with significant cash flow, allowing for sustained investments in R&D while maintaining a commitment to shareholder value through dividend growth. As of Q2 2024, there are 84 hedge fund holders of Pfizer Inc. (NYSE:PFE), an increase from 77 in the previous quarter, indicating growing institutional confidence in the stock.

With its strategic emphasis on expanding its oncology leadership, robust pipeline innovations, and commitment to shareholder returns, Pfizer Inc. (NYSE:PFE) presents a compelling investment opportunity. The company’s disciplined execution and strong financial performance suggest that it is well-equipped to navigate the evolving pharmaceutical landscape and capitalize on emerging market needs. Investors looking for stability combined with growth potential should consider adding Pfizer Inc. (NYSE:PFE) to their portfolios, especially as it remains undervalued under $50, making it one of the best stocks to invest in now.