5 Cheap Stocks To Invest In (February 2021)

2. Biogen Inc. (NASDAQ: BIIB)

Number of Hedge Funds: 63
P/E Ratio: 11.37

Switzerland-based Biogen specializes in treatment of neurological diseases. Earlier in February, the company’s CEO Michael Vousantos said that the company is expecting a “financial reset” in 2021. In the fourth quarter, the company posted a non-GAAP EPS of $4.58, missing the consensus by $0.18.  Revenue in the period plummeted 22%. Revenue in 2021 is projected to be in the range of $10.45 billion-$10.75 billion, compared to the Street’s estimate of $11.24 billion.

Our database shows that 63 hedge funds held stakes in Biogen Inc. at the end of December, versus the 59 funds in the third quarter.