9 Best Gene Therapy Stocks to Buy Now

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1. Pfizer Inc. (NYSE:PFE)

Number of Hedge Fund Holders: 77

Pfizer Inc. (NYSE:PFE) is a multinational biotechnology and pharmaceutical company, based in Manhattan, New York City.

Recently, Pfizer Inc. (NYSE:PFE) achieved its first US FDA approval for a gene therapy with Beqvez, a one-time treatment for adults with hemophilia B. This milestone has strengthened Pfizer’s position in the hemophilia market.

Moreover, Pfizer Inc. (NYSE:PFE) expects to receive an FDA decision by year-end for Marstacimab. This could be a potential breakthrough as the first once-weekly subcutaneous treatment for hemophilia B.

In Q1 2024, Pfizer Inc. (NYSE:PFE) recorded a 530 basis points improvement, to 79.6%, in its gross margin, in comparison to the same period last year. The company posted an adjusted diluted earnings per share (EPS) of $0.82, surpassing its expectations. Furthermore, Pfizer Inc. (NYSE:PFE) distributed $2.4 billion to the company’s shareholders through the quarterly dividend.

The average 12-month price target for Pfizer Inc. (NYSE:PFE), based on recent assessments by 17 Wall Street analysts, is $32.8. The price targets range from a high of $53 to a low of $27. This average target suggests a potential upside of around 14% from the current price of $28.7.

At the end of Q1 2024, 77 hedge funds reported owning a stake in Pfizer Inc. (NYSE:PFE). The strong hedge fund sentiment, positive analyst ratings, and a healthy product pipeline make Pfizer Inc. (NYSE:PFE) the best gene therapy stock to buy in 2024.

If you are looking for an AI stock that is more promising than Micron but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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