In this article, we discuss 5 of the best immunotherapy stocks to buy now. If you want to review our detailed discussion on the cancer and oncology industry, head directly to the 11 Best Immunotherapy Stocks To Buy Now.
5. Bristol-Myers Squibb Company (NYSE:BMY)
Number of Hedge Fund Holders: 66
Bristol-Myers Squibb Company (NYSE:BMY) is a multinational biopharmaceutical corporation engaged in comprehensive activities such as research, development, licensing, manufacturing, marketing, and distribution of biopharmaceutical products. These products are developed to target diverse medical conditions, including hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases.
On October 9, Bristol-Myers Squibb Company (NYSE:BMY) announced its agreement to acquire Mirati Therapeutics, a targeted oncology biotech company. The deal, anticipated to be finalized by the end of Q1 2024, entails BMY paying $58 per share in cash, amounting to a total value of $4.8 billion. This acquisition will enable Bristol-Myers Squibb Company (NYSE:BMY) to expand its oncology portfolio with targeted therapies like Krazati (adagrasib), a KRAS G12C inhibitor that has received recent approval for the treatment of advanced non-small cell lung cancer patients (NSCLC).
By the end of this year’s second quarter, 66 out of the 910 hedge funds part of Insider Monkey’s research were Bristol-Myers Squibb Company (NYSE:BMY)’s investors. Richard S. Pzena’s Pzena Investment Management is the largest shareholder among these since it owns 4.3 million shares that are worth $277 million.
RGA Investment Advisors made the following comment about Bristol-Myers Squibb Company (NYSE:BMY) in its Q3 2022 investor letter:
“Bristol-Myers Squibb Company (NYSE:BMY), which we referenced above, boasts a double digit free cash flow yield that gets divided roughly equally between repurchases, a dividend and M&A in what is the best environment for acquisitions perhaps ever. In 2019, BMY acquired Celgene, who had one of the better corporate development programs in the industry. We view this as a great outlet for us as generalists considering a company like BMY should truly thrive with the ability to acquire outstanding assets and science at depressed valuations. We touched on the Turning Point acquisition above and we expect the company to be increasingly active in the M&A landscape. Importantly, Celgene also came to BMY with a phenomenal CAR-T platform. CAR-T is a cell therapy that activates the body’s immune system to target cancers. This will be a key growth vector alongside M&A in overcoming the company’s patent cliff.”
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