5 Best Stocks To Buy For Beginners Right Now

3. BELLUS Health Inc. (NASDAQ:BLU)

Share Price as of April 7: $8.07

Number of Hedge Fund Holders: 26

BELLUS Health Inc. (NASDAQ:BLU) is a Canadian clinical stage biopharmaceutical company that develops treatments for refractory chronic cough and similar cough hypersensitivity issues. The stock has climbed close to 36% in the last six months. 

On February 24, H.C. Wainwright analyst Andrew Fein raised the price target on BELLUS Health Inc. (NASDAQ:BLU) to $16 from $14 and reiterated a Buy rating on the shares. With the recent discontinuation of Bayer’s elipixant, a cough medication, and Shionogi’s sivopixant failing in a clinical trial, BELLUS Health Inc. (NASDAQ:BLU)’s BLU-5937 has more chances of commercial success. The product has tested well for tolerability and has less market rivals, the analyst told investors in a bullish thesis.

Hedge fund sentiment around BELLUS Health Inc. (NASDAQ:BLU) was largely positive. Among the hedge funds tracked by Insider Monkey, 26 funds were bullish on BELLUS Health Inc. (NASDAQ:BLU) at the end of December 2021, up from 17 funds in the prior quarter. Peter Kolchinsky’s RA Capital Management is the biggest stakeholder of the company, with 10.2 million shares worth $82.3 million.