5 Best Biotech Stocks To Buy Now

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In this article, we discuss 5 Best Biotech Stocks To Buy Now. If you want to read our detailed analysis on the methodology, risk/reward, industry for our list, go directly to 10 Best Biotech Stocks To Buy Now.

5. Seagen Inc. (NASDAQ:SGEN)

Number of Hedge Fund Holders: 54

Seagen Inc. (NASDAQ:SGEN) is a biotechnology company, headquartered in Bothell, Washington. The company specializes in antibody-based drug therapies for the treatment of cancer. The company’s strong therapy areas include Hodgkin’s lymphoma, urothelial cancer, breast cancer, and cervical cancer. The firm has a market cap of close to $28.59 billion with estimated annual revenue of $1.84 billion. 

Gregory Renza of RBC Capital increased Seagen Inc. (NASDAQ:SGEN)’s share price target to $188 from $179 in August 2022. According to the analyst, the recent retreat following the arbitration verdict has created a nearer-term opportunity for investors. Out of the 912 hedge funds part of Insider Monkey’s survey for this year’s second quarter, 54 had invested in the firm.

Despite the reports of Merck & Co (MRK.N) talks with Seagen Inc. (NASDAQ:SGEN) hitting an obstacle over price the company revealed earnings per share of -$0.73 and beat EPS estimate by $0.16. The revenue reported was $497.50 million. 

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