5 Most Undervalued Biotech Stocks To Buy According To Hedge Funds

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In this article, we discuss 5 most undervalued biotech stocks to buy according to hedge funds. If you want to read our discussion on the biotech industry, head directly to 12 Most Undervalued Biotech Stocks To Buy According To Hedge Funds

5. Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Number of Hedge Fund Holders: 28

PE Ratio as of February 29: 18.90

Halozyme Therapeutics, Inc. (NASDAQ:HALO) is a biopharmaceutical technology platform company based in San Diego, California, with operations worldwide. The company focuses on researching, developing, and commercializing proprietary enzymes and devices. Halozyme offers a range of treatments for breast cancer, multiple sclerosis, primary immunodeficiency disorders, and others. Halozyme Therapeutics, Inc. (NASDAQ:HALO) is one of the most undervalued stocks to buy. 

On January 16, Halozyme Therapeutics, Inc. (NASDAQ:HALO) announced the approval of two therapeutic formulations utilizing its Enhanze drug delivery technology in the US and Europe. In the US, Takeda Pharmaceutical Company Limited (NYSE:TAK) received FDA approval for Hyqvia, a treatment for adults with chronic inflammatory demyelinating polyneuropathy (CIDP), co-formulated with Halozyme’s Enhanze.

According to Insider Monkey’s fourth quarter database, 28 hedge funds were bullish on Halozyme Therapeutics, Inc. (NASDAQ:HALO), compared to 23 funds in the last quarter. Paul Marshall and Ian Wace’s Marshall Wace LLP is a prominent stakeholder of the company, with 646,168 shares worth $23.8 million. 

Bernzott Capital Advisors US Small Cap Value Fund stated the following regarding Halozyme Therapeutics, Inc. (NASDAQ:HALO) in its fourth quarter 2023 investor letter:

“Halozyme Therapeutics, Inc. (NASDAQ:HALO): Despite an inline quarter and solid outlook, the stock underperformed. We believe there are several potential licensing agreement catalysts heading into 2024 that should add to their highly predictable and cash flow generating royalty revenue streams.”

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