5 Biotech and Pharma Stocks to Buy According to Billionaire Steve Cohen

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In this piece, we will take a look at the 5 biotech and pharma stocks to buy according to billionaire Steve Cohen. If you want to check out more stocks and learn about Mr. Cohen, then head over to 10 Biotech and Pharma Stocks to Buy According to Billionaire Steve Cohen.

5. Seagen Inc. (NASDAQ:SGEN)

Point72 Asset Management’s Holdings: $137 million

Percentage of Point72 Asset Management’s Portfolio: 0.6%

Number of Hedge Fund Holders: 40

Seagen Inc. (NASDAQ:SGEN) is a cancer treatment provider headquartered in the United States. Its treatments cover different cancers such as those of the breast, the urinary tract, and the cervix.

By Q3 2021 end, Mr. Cohen’s Point72 Asset Management owned 812,081 Seagen Inc. (NASDAQ:SGEN) shares which were worth $137 million and represented 0.6% of the firm’s portfolio. 40 of the 867 hedge funds polled by Insider Monkey held Seagen Inc. (NASDAQ:SGEN) shares as Q3 2021 ended.

For its third fiscal quarter, Seagen Inc. (NASDAQ:SGEN) brought in $424 million in revenue and -$1.61 in GAAP EPS, beating analyst estimates for revenue. Piper Sandler raised the company’s price target to $165 in an October 2021 analyst note, highlighting that while the company posted strong earnings, there is limited visibility into its future.

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