5 Best Momentum Stocks To Invest In

3. Pfizer Inc. (NYSE: PFE)

Number of Hedge Fund Holders: 65 

Percentage Gain in Last Month: 21.26%   

Pfizer Inc. (NYSE: PFE) is placed third on our list of 15 best momentum stocks to invest in. The company makes and sells biopharma products and is headquartered in New York. On August 16, the firm announced that it had submitted early-stage data to regulatory authorities in the United States to support the evaluation of COVID-19 vaccine booster shots. The biopharma firm will submit the data to the European authorities as well. The company has developed the vaccine in partnership with BioNTech. 

On July 30, investment advisory Mizuho maintained a Neutral rating on Pfizer Inc. (NYSE: PFE) stock and raised the price target to $43 from $42, noting that the firm delivered an impressive beat and raise in the earnings results for the second quarter. 

At the end of the first quarter of 2021, 65 hedge funds in the database of Insider Monkey held stakes worth $2 billion in Pfizer Inc. (NYSE: PFE), up from 63 in the preceding quarter worth $1.8 billion.

In its Q1 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Pfizer Inc. (NYSE: PFE) was one of them. Here is what the fund said:

“Our underweights in health care and staples contributed to relative performance during the period. As we continue to focus the portfolio on high-conviction ideas, we sold Pfizer in late 2020, in the health care sector.”