10 Best Biotech Stocks to Buy According to Billionaire Steve Cohen

6. Genmab A/S (NASDAQ:GMAB)

Point72 Asset Management Equity Stake: $18.09 Million

Number of Hedge Fund Holders: 20

Genmab A/S (NASDAQ:GMAB) is one of the best biotech stocks to buy according to billionaire Steve Cohen. On July 8, Truist Securities reiterated a ‘Buy’ rating on the stock and increased its price target to $46 from $45.

According to Truist Securities, the current valuation does not depict the company’s fair value. That’s because it boasts an established revenue and solid pipeline potential. The price target adjustment underscores Truist Securities’ confidence about Genmab’s revenue outlook for 2025.

The research firm is confident about the company’s cancer drug Darzalex as prescription data indicates 10% quarter-over-quarter growth in Q2. The firm is also bullish about the company’s other products, including Epkinly and Kesimpta. Truist Securities has also expressed confidence in Genmab’s pipeline assets, including Rina-S, Acasun, and Gen1042, which it believes are undervalued.

Genmab A/S (NASDAQ:GMAB) is a biotechnology company specializing in the development of antibody therapeutics for cancer treatment. It utilizes advanced antibody technologies, such as DuoBody and HexaBody, to create next-generation therapeutic antibodies.