5 Biotech Stocks to Buy According to Billionaire David E. Shaw

4. Incyte Corporation (NASDAQ:INCY)

D.E. Shaw’s Stake Value: $188 million

Percentage of D.E. Shaw’s 13F Portfolio: 0.15%

Number of Hedge Fund Holders: 40

Incyte Corporation (NASDAQ:INCY) is a biotechnology firm headquartered in Wilmington, Delaware. It develops proprietary therapeutics technologies for a variety of diseases, including treatments for cancer and leukemia.

For its fiscal fourth quarter, Incyte Corporation (NASDAQ:INCY) earned revenue of $862 million and EPS of $0.10. RBC Capital increased its price target on INCY shares to $90 from $78 in January 2022, stating that the company has a strong core portfolio of treatments and impressive sales expectations for some of its drugs.

D.E. Shaw held a $188 million stake in Incyte Corporation (NASDAQ:INCY) at the close of last year’s fourth quarter, owning 2.56 million shares. The stake represented 0.15% of the value of its 13F investment portfolio. Julian Baker and Felix Baker’s Baker Bros. Advisors was Incyte Corporation (NASDAQ:INCY)’s largest investor tracked by our database, owning a $2.47 billion stake that consisted of 33.6 million shares.