5 Most Undervalued Healthcare Stocks To Buy According To Hedge Funds

3. Biogen Inc. (NASDAQ:BIIB)

Number of Hedge Fund Holders: 75

Massachusetts-based Biogen Inc. (NASDAQ:BIIB) ranks 3rd in our list of the most undervalued healthcare stocks to buy according to hedge funds. With a PE ratio under 15 and 75 hedge fund investors as of the end of the fourth quarter, Biogen Inc. (NASDAQ:BIIB) seems to have strong growth potential and investor sentiment.

In February, Biogen Inc. (NASDAQ:BIIB) posted Q4 results. Adjusted EPS in the quarter totaled $4.05, beating estimates by $0.57. Revenue in the quarter fell 7.3% on a YoY basis to reach $2.54 billion, beating estimates by $100 million.

ClearBridge Investments made the following comment about Biogen Inc. (NASDAQ:BIIB) in its Q3 2022 investor letter:

“Biogen Inc. (NASDAQ:BIIB) was the leading contributor among several biopharma names, boosted by positive, pivotal clinical data for its next-generation Alzheimer’s treatment Lecanemab. In a pivotal trial, the drug proved safe and efficacious in slowing progression of Alzheimer’s disease.”