In this piece, we will take a look at five biotechnology stocks to buy according to billionaire David E. Shaw. If you want to learn more about the hedge fund investor and his fund, and want to take a look at more stock picks from this list, then head over to 10 Biotech Stocks to Buy According to Billionaire David E. Shaw.
5. Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)
D.E. Shaw’s Stake Value: $184 million
Percentage of D.E. Shaw’s 13F Portfolio: 0.15%
Number of Hedge Fund Holders: 43
Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) is a biotechnology company that develops medicines for a host of diseases. These include macular degeneration, edema, diabetic retinopathy, dermatitis, and cancer. It is headquartered in Tarrytown, New York, and was founded in 1988.
Dr. Shaw’s investment firm owned 292,871 Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) shares at the end of the fourth quarter of last year. These were worth $184 million and represented 0.15% of its 13F investment portfolio’s value. During the same time period, 43 hedge funds tracked by Insider Monkey also held the company’s shares. Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)’s largest shareholder among that group was Natixis Global Asset Management’s Harris Associates, which owned 1.3 million shares worth $834 million.
Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) beat analyst estimates for revenue and non-GAAP EPS during its fiscal Q4, by posting $4.95 billion and $23.72, respectively. Truist lowered its price target on the company’s shares to $728 from $754 in February 2022, outlining lowered sales and headwinds for several of its products.