In this article, we discuss the 5 good stocks to buy right now. If you want to read our detailed analysis of these stocks, go directly to the 10 Good Stocks to Buy Right Now.
5. Invitae Corporation (NYSE: NVTA)
Number of Hedge Fund Holders: 31
Invitae Corporation (NYSE: NVTA) is a San Francisco-based medical genetics firm that ranks 5th on the list of 15 good stocks to buy right now. The company conducts DNA testing to diagnose diseases such as heart disease, hereditary cancer, and metabolic disorders.
The stock has gained 9.2% in post-market trading on August 6 amid claims that Wisconsin-based cancer diagnostic test developer Exact Sciences (NASDAQ: EXAS) has addressed the genetics company for a possible merger, as reported by Bloomberg.
On August 4, Benchmark analyst Bruce Jackson upgraded Invitae Corporation (NYSE: NVTA) from Hold to Buy, with a price target of $35 per share. Meanwhile, Cathie Wood, fund manager at ARK Investment Management, recently increased her stake in Invitae Corporation (NYSE: NVTA) through the ARKK Innovation ETF, which acquired approximately 448,700 shares, bringing its stake in the ETF to approximately 5.1%. Shares of Invitae Corporation (NYSE: NVTA) surged 13% in the last five days.
The company has a market cap of $6.05 billion. In the second quarter of 2021, Invitae Corporation (NYSE: NVTA) reported an EPS of -$0.64, beating estimates by $0.06. The company’s revenue in the second quarter grew 152% year over year to $116.3 million and beat revenue estimates by $6.57 million.
4. Novavax, Inc. (NASDAQ: NVAX)
Number of Hedge Fund Holders: 37
Novavax, Inc. (NASDAQ: NVAX) is a Maryland-based biotech company and it ranks 4th on the list of 15 good stocks to buy right now. Novavax, Inc. (NASDAQ: NVAX) stock has risen 26.4% in the previous month after the biotech company has stated that a single booster dosage of the COVID-19 vaccine NVX-CoV2373, is linked to a 4.6-fold increase in effective antibody response against the pandemic virus.
Cantor Fitzgerald analyst Charles Duncan maintained an Overweight rating on Novavax, Inc. (NASDAQ: NVAX) with a price target of $272 per share on August 4, following the EU’s approval of an Advanced Purchase Agreement with Novavax for NVX-CoV2373. By the end of Q3 2021, Novavax, Inc. (NASDAQ: NVAX) aims to have a monthly manufacturing capacity of 100 million doses, and 150 million doses by the end of Q4 2021.
The company has a market cap of over $14 billion. In the second quarter of 2021, Novavax, Inc. (NASDAQ: NVAX) reported an EPS of -$4.75, missing estimates by $1.50. The company’s second-quarter revenue came in at $298.02 million, an increase of 738.5% year over year. The stock has gained 70%, year to date.
3. Penn National Gaming, Inc. (NASDAQ: PENN)
Number of Hedge Fund Holders: 40
Penn National Gaming, Inc. (NASDAQ: PENN) is a gaming company based in Pennsylvania that ranks 3rd on the list of 15 good stocks to buy right now. The company owns and operates casinos, gaming, and racing facilities across the US. Penn National Gaming, Inc. (NASDAQ: PENN) also manages online sports betting apps and online casinos.
On August 6, Penn National Gaming, Inc. (NASDAQ: PENN) announced its $2 billion acquisition of Canadian digital sports media firm Score Media and Gaming Inc. (NASDAQ: SCR), which is set to complete in the first quarter of 2022. Following the announcement of the acquisition and strong second-quarter results, Stifel analyst Steven Wieczynski maintained a Buy rating on Penn National Gaming, Inc. (NASDAQ: PENN) with a price target of $108 per share.
The company has a market cap of $11 billion. In the second quarter of 2021, Penn National Gaming, Inc. (NASDAQ: PENN) reported an EPS of $1.17, beating estimates by $0.21. The company’s second-quarter revenue came in at $1.55 billion, up from $305.5 million in the same period in 2020, and beat revenue estimates by $45.35 million.
2. Ford Motor Company (NYSE: F)
Number of Hedge Fund Holders: 55
Michigan-based car manufacturer Ford Motor Company (NYSE: F) ranks 2nd on the list of 15 good stocks to buy right now. Ford Motor Company (NYSE: F) has recently unveiled several new vehicles, including the electric Mustang Mach-E crossover and a revised F-150, as well as two new Bronco models and a new small pickup called Maverick.
In June 2021, Ford Motor Company (NYSE: F) bought California-based charging management and fleet-monitoring software vendor Electriphi as part of its $30 billion EV investment through 2025.
On July 16, BofA analyst John Murphy maintained a Buy rating on Ford Motor Company (NYSE: F) and increased its price target to $18 from $17. Shares of Ford Motor Company (NYSE: F) climbed 18% in the last three months.
The company has a market cap of $55 billion. In the second quarter of 2021, Ford Motor Company (NYSE: F) reported an EPS of $0.13, beating estimates by $0.10. The company’s revenue in the second quarter came in at $24.13 billion and beat revenue estimates by $1.13 billion.
At the end of the second quarter of 2021, 55 hedge funds in the database of Insider Monkey held stakes worth $2.11 billion in Ford Motor Company (NYSE: F), up from 49 in the previous quarter worth $2.19 billion.
1. Advanced Micro Devices, Inc. (NASDAQ: AMD)
Number of Hedge Fund Holders: 63
Topping the list of 15 good stocks to buy right now is California-based chipmaker Advanced Micro Devices, Inc. (NASDAQ: AMD). The semiconductor company sells graphic processing units (GPUs) utilized in data centers, gaming, and cryptocurrency mining.
Advanced Micro Devices, Inc. (NASDAQ: AMD) announced a $35 billion all-stock acquisition of Chinese chipmaker Xilinx, Inc. (NASDAQ: XLNX) in October 2020, with the deal likely to close by the end of 2021.
On July 29, shares of Advanced Micro Devices, Inc. (NASDAQ: AMD) rose more than 5% as Chief Executive Lisa Su spoke optimistically about the chipmaker’s position in the semiconductor market, despite the continued chip shortage. Su noted that the supply chain has improved, and as a result, the company’s second-quarter results have been surpassed.
On August 9, BMO Capital Markets analysts upgraded Advanced Micro Devices, Inc. (NASDAQ: AMD) to a Market Perform rating from Underperform and increased its price target to $110 per share from $80 previously. The stock has gained 21% in the previous month.
The company has a market cap of $134 billion. In the second quarter of 2021, Advanced Micro Devices, Inc. (NASDAQ: AMD) reported an EPS of $0.63, beating estimates by $0.09. The company’s revenue came in at $3.85 billion, an increase of 99% year over year, and beat estimates by $237.31 million.
At the end of the second quarter of 2021, 63 hedge funds in the database of Insider Monkey held stakes worth $4.61 billion in Advanced Micro Devices, Inc. (NASDAQ: AMD), up from 62 in the previous quarter worth $3.70 billion.
You can also take a peek at the 10 Reddit WallStreetBets Stocks That are Rising and 10 Finance Stocks that Pay Dividends.
