Below we listed the 5 best large-cap biotech stocks to buy now according to hedge funds. For our detailed discussion as well as a more comprehensive list please see 12 Best Large-cap Biotech Stocks To Buy Now.
5. Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)
No of HFs: 55
Total Value of HF Holdings: $3.4 Billion
Coming in fifth in our list of best large biotech stocks to buy now is Vertex Pharmaceuticals Incorporated, they are a biopharmaceutical company that is known as one of the first firms to use an explicit strategy of rational drug design. They are focused on creating medicines to cure diseases and improve people’s lives. The company has multiple approved medicines that treat the underlying cause of cystic fibrosis. During the third quarter of 2020, the company reported product revenue of $1.54 billion, a 62% increase compared to the same quarter of 2019.
The top hedge fund holder of this stock is Jim Simon’s Renaissance Technologies which had $1.416 billion invested in the stock at the end of September.