Are Beech Hill Advisors’ Top Biotech Stock Picks Poised For A Big Q4?

#1 Pfizer Inc. (NYSE:PFE)

Shares Owned by Beech Hill Advisors (as of September 30): 169,223 shares

Value of Holding (as of September 30): $5.315 million

Finally, even though its stock receded by 6% during the third quarter and Beech Hill Advisors sold 751 shares of the company, Pfizer Inc. (NYSE:PFE) remained Beech Hill Advisors’ top biotech pick as of September 30. Shares of the company have now recovered from the drop they saw during the third quarter and currently trade with year-to-date gains of almost 10%. Recently it was reported that the company has approached Allergan PLC (NYSE:AGN) about a merger and the two companies are in the midst of early discussions towards a deal. The Street is also rife with speculation that Pfizer Inc. (NYSE:PFE) might be interested in acquiring Valeant Pharmaceuticals Intl Inc (NYSE:VRX) because the latter is a good fit for the former. Like Gilead Sciences, Pfizer also declared better-than-expected third quarter results, on October 27. The company reported EPS of $0.60 on revenue of $12.10 billion, while analysts had expected it to report EPS of $0.51 on revenue of $11.56 billion. On November 3, analysts at Argus reiterated their ‘Buy’ rating on the stock and also upped their price target on it to $46 from $41. With ownership of more than 31.8 million shares, Ken Fisher‘s Fisher Asset Management was the largest shareholder of Pfizer at the end of June among the funds we cover.

Disclosure: None