11 Best Drug Stocks to Buy According to Hedge Funds

8. Bristol-Myers Squibb Company (NYSE:BMY)

Number of Hedge Fund Holders: 69

Bristol-Myers Squibb Company (NYSE:BMY) is one of the 11 Best Drug Stocks to Buy According to Hedge Funds. On June 11, Bristol-Myers Squibb Company (NYSE:BMY) announced positive data from the pivotal Phase 3 POETYK PsA-1 trial that investigated the safety and efficacy of Sotyktu in adults with active psoriatic arthritis (PsA) who did not previously receive treatment through a biologic disease-modifying antirheumatic drug (bDMARD). The trial met its primary endpoint, demonstrating that more patients treated with Sotyktu achieved an ACR20 response, or at least a 20% improvement in signs and symptoms of disease, compared to placebo at Week 16.

Sotyktu’s safety profile through 16 weeks of treatment remained consistent with previous reports throughout its clinical trials, including the Phase 3 POETYK PsA-2 trial and the Phase 3 moderate-to-severe plaque psoriasis (PsO) clinical trials.

Bristol-Myers Squibb Company (NYSE:BMY) is a biopharmaceutical company that discovers, develops, and delivers advanced medicines for serious diseases. Its medicines fall into various therapeutic classes, including hematology, oncology, cardiovascular, immunology, and neuroscience.