5 Best Cancer Stocks To Buy Now

4. Pfizer Inc. (NYSE:PFE)

Number of Hedge Fund Holders: 73

Pfizer Inc. (NYSE:PFE) is a global biopharmaceutical company that is involved in the discovery, development, manufacturing, marketing, and distribution of biopharmaceutical products. The company is notable for its strong oncology portfolio, which comprises over 20 approved medications and ongoing clinical trials, making it one of the best cancer stocks to buy. On September 15, it was revealed that Pfizer Inc. (NYSE:PFE)’s proposed $43 billion purchase of oncology-focused pharmaceutical company Seagen Inc. (NASDAQ:SGEN) will undergo a review by European Union antitrust authorities. The European Commission has set a deadline of October 19 to conclude its initial assessment.

According to Insider Monkey’s second quarter database, 73 hedge funds were bullish on Pfizer Inc. (NYSE:PFE), same as the prior quarter. Ric Dillon’s Diamond Hill Capital held a significant position in the company, with 6.9 million shares worth $253.1 million.

Diamond Hill Large Cap Strategy made the following comment about Pfizer Inc. (NYSE:PFE) in its Q2 2023 investor letter:

“Our bottom contributors in Q2 included health insurance company Humana, biopharmaceutical company Pfizer Inc. (NYSE:PFE) and global entertainment company Disney. Pharmaceutical giant Pfizer has been dealing with a decline in sales due to lower COVID vaccination levels. Additionally, in 2023, management is increasing spend as the company invests in new product launches. That said, we remain positive about the long-term company fundamentals.”