5 Cheap Healthcare Stocks to Buy Now

4. Biogen Inc (NASDAQ: BIIB)

PE Ratio (TTM): 8.64

Switzerland-based Biogen sells therapies for the treatment of neurological diseases. Unlike major pharmaceutical companies, Biogen does not mass-market its products and its treatments are highly expensive and offered only to a narrow customer base. The company is also known for its treatments for multiple sclerosis, leukemia and hemophilia. Biogen shares have gained over 6% in the last 30 days.

Jim Simons’ Renaissance Technologies owns 3.82 million shares of Biogen as of the end of the third quarter. The total value of these shares is $1.1 billion.  A total of 59 hedge funds tracked by Insider Monkey held long positions in the company at the end of September.

Distillate Capital recently said the following about BIIB in their Q2 2020 Investor Letter:

“The biggest additions to the portfolio in the rebalance were Biogen and Philip Morris, each increasing around 30 basis points as their relative valuations improved over the quarter.”

Related Article: Is BIIB A Good Stock To Buy Now?