5 Best Biotech Stocks to Invest In According to Billionaire Steve Cohen

In this article, we will take a look at the 5 Best Biotech Stocks to Invest In According to Billionaire Steve Cohen. For a deeper discussion and an extended list, please see the 10 Best Biotech Stocks to Invest In According to Billionaire Steve Cohen. 

Steven Cohen of Point72 Asset Management

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

Point72 Asset Management: $162,041,747

On April 30, 2026, Reuters reported that Bristol-Myers Squibb Company (NYSE:BMY) announced first-quarter adjusted earnings of $1.58 per share, which came in above analysts’ average estimate of $1.42. The revenue of $11.49 billion also exceeded expectations of $10.9 billion. Shares rose by 4%.

Eliquis produced $4.14 billion in quarterly sales with growth of 16% YoY. Chief Commercialization Officer Adam Lenkowsky said that demand continues to be solid, with new prescription share over 75%, adding that the drug’s performance should support growth later this year. Bristol-Myers Squibb Company (NYSE:BMY)’s growth portfolio, which includes cell therapy Breyanzi and Camzyos, went up by 12% to $6.23 billion. This made up more than half of the total revenue.

Opdivo sales declined 5% to $2.15 billion and missed projections of $2.33 billion. CFO David Elkins said that the shortfall is because of wholesaler inventory cutbacks, and the company is still watching whether levels return to normal.

Trung Huynh, an analyst at RBC Capital Markets, believes second-half catalysts, such as the probable approval of a next-generation cancer therapy and late-stage milvexian data, are more important than current quarterly results.

The company reiterated its sales outlook for 2026 of $46.0 billion to $47.5 billion, trending toward the higher end.

Bristol-Myers Squibb Company (NYSE:BMY) is involved in the discovery, development, licensing, manufacturing, marketing, distribution, and sale of biopharmaceutical products. It provides small molecules, biologics, and CAR-T cell treatments.