10 Best Biotech Stocks to Buy According to Billionaire Steve Cohen

8. Roivant Sciences Ltd. (NASDAQ:ROIV)

Point72 Asset Management Equity Stake: $6.19 Million

Number of Hedge Fund Holders: 53

Roivant Sciences Ltd. (NASDAQ:ROIV) is one of the best biotech stocks to buy according to billionaire Steve Cohen. On July 10, Goldman Sachs resumed coverage of the stock with a ‘Buy’ rating and a $19 price target.

The investment bank’s bullish outlook on the stock is based on the company’s strong clinical pipeline and potential market opportunities. The company’s subsidiary, Pulmovant, delivered positive Phase 1 data for mosliciguat, an inhaled treatment for pulmonary hypertension. In addition, the firm is optimistic about the anticipated positive results from the Phase 3 VALOR clinical trials.

The Buy rating follows the authorization of Roivant Sciences to repurchase $500 million in shares, following the completion of a previous $1.5 billion program. The new program underscores the company’s commitment to returning value to shareholders.

Roivant Sciences Ltd. (NASDAQ:ROIV) is a biotechnology company that develops and commercializes innovative medicines and technologies. Its clinical product candidates include IMVT-1402, an antibody that targets the neonatal Fc receptor for the treatment of Graves’ disease and difficult-to-treat rheumatoid arthritis.