5 Pharmaceutical Stocks to Buy Based on Billionaire Ken Griffin’s Portfolio

3. Seagen Inc. (NASDAQ:SGEN)

Citadel Investment Group’s Stake Value: $210,015,000

Percentage of Citadel Investment Group’s 13F Portfolio: 0.04%

Number of Hedge Fund Holders: 40

Seagen Inc. (NASDAQ:SGEN), a Washington-based biotech company specializing in antibody-based therapies for treating cancer, is one of the best pharmaceutical stocks to buy based on billionaire Ken Griffin’s portfolio. Griffin, via Citadel Investment Group, owns a $210 million position in Seagen Inc. (NASDAQ:SGEN) in the third quarter, which represents 0.04% of the hedge fund’s total 13F portfolio. 

At the end of Q3 2021, 40 hedge funds in the database of Insider Monkey’s elite funds reported owning stakes in Seagen Inc. (NASDAQ:SGEN), amounting to $9.47 billion. This is an increase compared to 37 funds being bullish on Seagen Inc. (NASDAQ:SGEN) in the preceding quarter, holding total stakes worth $8.70 billion. 

On October 28, Seagen Inc. (NASDAQ:SGEN) announced its Q3 results, posting an EPS of -$1.61, missing estimates by -$1.04. The quarterly revenue totaled $424.06 million, down 60.06% as compared to the preceding year quarter, but exceeding estimates by $38.91 million. 

Wolfe Research analyst Andrew Galler on November 8 initiated coverage of Seagen Inc. (NASDAQ:SGEN) with a Peer Perform rating and a $195 price target.

Here is what Carillon Tower Advisers has to say about Seagen Inc. (NASDAQ:SGEN) in their Q4 2020 investor letter:

“Seagen is a biotechnology company engaged in the development and commercialization of monoclonal antibody-based therapies for the treatment of cancer. The stock slumped a bit in the quarter after the firm announced it was lowering guidance for its drug Adcetris, which is an antibody medication used to treat lymphoma. We remain optimistic on the stock, primarily due to the company’s appealing pipeline of new products as well as the continued growth of Padcev (for metastatic urothelial cancer) and Tucatinib (for breast cancer).”