10 Best Biotech Stocks to Buy According to Billionaire Steve Cohen

3. Amicus Therapeutics, Inc. (NASDAQ:FOLD)

Point72 Asset Management Equity Stake: $24.36 Million

Number of Hedge Fund Holders: 47

Amicus Therapeutics, Inc. (NASDAQ:FOLD) is one of the best biotech stocks to buy according to billionaire Steve Cohen. On July 17, Morgan Stanley upgraded FOLD to Overweight with a $12 price target, citing its strong intellectual property position ahead of a key legal decision with Aurobindo.

The firm also pointed to Amicus’s solid financials—including a 90.6% gross margin and a current ratio of 3.34—and growing confidence in patient shifts toward PomOp over Nexviazyme/Lumizyme.

Morgan Stanley adjusted its sales forecasts slightly below consensus for Galafold and PomOp, but remains bullish due to Amicus’s recent licensing of DMX-200 for FSGS treatment. With strategic supply chain planning and U.S. inventory in place, management expects minimal tariff impact in 2025, reinforcing the company’s operational resilience.

Amicus Therapeutics, Inc. (NASDAQ:FOLD) is a global biotechnology company that develops and delivers transformative medicines for people living with rare metabolic diseases. It leverages innovative technology platforms to create treatments for genetic diseases, with a strong emphasis on patient needs.