5 Best Big Pharma Stocks to Buy Now

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

Number of Hedge Fund Holders: 73

New York-based drugmaker Bristol-Myers Squibb Company (NYSE:BMY) ranks third on the list of 10 best big pharma stocks to buy now. The biopharmaceutical company offers a wide variety of therapeutic medications for cancer, psoriatic arthritis, hepatitis B, and blood disorders.

On July 26, Truist analyst Robyn Karnauskas gave Bristol-Myers Squibb Company (NYSE:BMY) a Buy rating and a price target of $74 per share.

In the second quarter of 2021, Bristol-Myers Squibb Company (NYSE:BMY) reported an EPS of $1.93, beating estimates by $0.03. The company’s second-quarter revenue came in at $11.79 billion, an increase of 16% year over year, and beat revenue estimates by $474.30 million.

At the end of the second quarter of 2021, 73 hedge funds in the database of Insider Monkey held stakes worth $5.20 billion in Bristol-Myers Squibb Company (NYSE:BMY), down from 81 in the previous quarter.

Out of the hedge funds being tracked by Insider Monkey, Massachusetts-based hedge fund firm Berkshire Hathaway is a leading shareholder in Bristol-Myers Squibb Company (NYSE:BMY) with 26,294,266 shares worth more than $1.75 billion.