5 Best Pharmaceutical Stocks to Buy According to Cathie Wood

4. Incyte Corporation (NASDAQ: INCY)

Wood’s Stake Value: $242,847,000
Percentage of Cathie Wood’s 13F Portfolio: 0.49%
Number of Hedge Fund Holders: 

Incyte Corporation (NASDAQ: INCY) discovers, develops, and commercializes proprietary therapeutics globally. It was founded in 1991 and is placed fourth on our list of 10 best pharmaceutical stocks to buy, according to Cathie Wood. 

The company’s study testing ruxolitinib treatment has met its goal and has demonstrated good results in patients. Incyte will submit the application for ruxolitinib for atopic dermatitis in the second half of 2021. For Q1 2021, the company’s revenue was up 1% YoY to $466 million. Incyte has full-year revenue expectations of $2.125-$2.20 billion.

ARK Investment holds more than 2.9 million shares in the biopharmaceutical firm worth over $242 million, representing 0.49% of their investment portfolio. ARK Investment has upped their Incyte Corporation (NASDAQ: INCY) stake by 68% the previous quarter.