10 Best Pharma Stocks To Buy According To Steven Boyd’s Armistice Capital

In this article, we will look at some of the notable pharma stocks to buy according to by Steven Boyd Capital of the Armistice. To skip our analysis of Steven Boyd’s profile, investment strategy and 13F holdings, you can go directly to the 5 Best Pharma Stocks To Buy According To Steven Boyd’s Armistice Capital.

Steven Boyd is the founder and managing partner of Armistice Capital, a New York-based hedge fund. Steven Boyd holds a BS in Economics as well as a BA in Political Science from the Wharton School at the University of Pennsylvania. He began his career as an analyst at McKinsey & Company, followed by a stint as an analyst at SAB Capital Management. Later, Steven worked as an associate at York Capital, focusing primarily on consumer and healthcare equity investments. Prior to forming Armistice Capital, Steven worked as a senior research analyst at Senator Investment Group.

Armistice Capital is a global, long/short, value-driven, event-driven hedge fund primarily focused on the healthcare and consumer sectors. The hedge fund invests primarily in stocks with rare opportunistic investments in the capital structure.

As of the second quarter of 2022, Steven Boyd’s Armistice Capital 13F portfolio was valued at $5.7 billion. Some of the notable companies included in the portfolio were Illumina, Inc. (NASDAQ:ILMN), Medtronic plc (NYSE:MTD), Adobe Inc. (NASDAQ:ADBE) and Walmart Inc. (NYSE:WMT), among others.

10 Best Pharma Stocks To Buy According To Steven Boyd’s Armistice Capital

Methodology

We’ve picked the top 10 pharma stocks in Steven Boyd’s Armistice Capital 13F portfolio for Q2 2022.

10 Best Pharma Stocks To Buy According To Steven Boyd’s Armistice Capital

10. Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Value of Armistice Capital’s stake: $87,918,000

Percentage of Armistice Capital’s 13F portfolio: 1.53%

Number of hedge fund holders: 45

Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) is a pharmaceutical company focused on creating life-changing medicines for people with serious and life-threatening diseases. She discovered and developed the first drugs to treat the underlying cause of cystic fibrosis, a rare and life-threatening genetic disease.

Armistice Capital owns 312,000 shares of Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX), or 1.53% of the hedge fund’s 13F portfolio. Armistice Capital’s stake in the company increased by 33% in Q2 2020, compared to the previous quarter.

Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) reported quarterly results for the second quarter of 2022 in August. Its net income rose 22% year-on-year to $2.2 billion, while it posted a net profit of $810 million. It reported normalized EPS of $3.60, beating consensus by $0.10.

On September 27, Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) announced that it had concluded talks with the FDA and would submit its biologics license application for exa-cel for the potential treatment of sickle cell disease and Transfusion-dependent beta-thalassemia for ongoing review starting in November. .

In Q2 2022, 45 hedge funds out of the 895 hedge funds tracked by Insider Monkey were bullish on Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) and held their shares valued at $2.3 billion. Jim Simon’s Renaissance Technologies was the largest shareholder holding 1.8 million shares valued at $496 million.

9. Bristol-Myers Squibb Company (NYSE:BMY)

Value of Armistice Capital’s stake: $89,012,000

Percentage of Armistice Capital’s 13F portfolio: 1.55%

Number of hedge fund holders: 69

Based in New Jersey, Bristol-Myers Squibb Company (NYSE: BMY) is a biotechnology company focused on the discovery, development and delivery of innovative medicines for serious diseases in the fields of oncology, hematology , immunology, cardiovascular disease and fibrosis.

Steven Boyd’s Armistice Capital owns 1,156,000 shares of Bristol-Myers Squibb Company (NYSE: BMY), which represents 1.55% of the hedge fund’s 13F portfolio. The hedge fund reduced its investment in Bristol-Myers Squibb Company (NYSE:BMY) by 18% in the second quarter of 2022, compared to the previous quarter.

Shares of Bristol-Myers Squibb Company (NYSE:BMY) fared significantly better than broader US stock indices. It is up 14% since the start of the year.

According to Insider Monkey data tracking 895 hedge funds, 69 hedge funds were long Bristol-Myers Squibb Company (NYSE: BMY) in the second quarter of 2022, holding shares worth a total of $2.2 billion. Its main shareholder was Two Sigma Consultants with ownership of 4.7 million shares valued at $363 million.

8. Enanta Pharmaceuticals, Inc. (NASDAQ:ENTA)

Value of Armistice Capital’s stake: $97,849,000

Percentage of Armistice Capital’s 13F portfolio: 1.70%

Number of hedge fund holders: 18

Based in Watertown, Massachusetts, Enanta Pharmaceuticals, Inc. (NASDAQ:ENTA) is a clinical-stage biotechnology company focused on the discovery and development of small molecule drugs for the treatment of viral infections and liver disease.

Steven Boyd’s Armistice Capital owns 2,070,000 shares of Enanta Pharmaceuticals, Inc. (NASDAQ:ENTA), which represents 1.70% of his 13F portfolio. The hedge fund increased its stake in the company by 85% during the second quarter of 2022, compared to the previous quarter.

Enanta Pharmaceuticals, Inc.’s (NASDAQ:ENTA) pipeline includes clinical candidates currently in development for respiratory syncytial virus (RSV), COVID-19, and hepatitis B virus. It is also conducting research on the human metapneumovirus.

On Aug. 10, Oppenheimer analyst Jay Olson raised Enanta Pharmaceuticals, Inc.’s (NASDAQ:ENTA) stock price target to $59 from $53 and maintained the “Perform” rating on the actions.

As of the second quarter of 2022, 18 of the 895 hedge funds tracked by Insider Monkey held shares of Enanta Pharmaceuticals, Inc. (NASDAQ:ENTA), valued at $263 million. by Thomas Steyer Farallon Capital was its second largest shareholder after Armistice Capital, with ownership of 1.6 million shares valued at $73 million.

7. Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Value of Armistice Capital’s stake: $111,132,000

Percentage of Armistice Capital’s 13F portfolio: 1.93%

Number of hedge fund holders: 44

Based in Tarrytown, New York, Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) is a leading biotechnology company that invents, develops and markets drugs focused on eye disease, allergic and inflammatory diseases, cancer, diseases cardiovascular and metabolic, pain, hematological conditions, infectious diseases and rare diseases.

Steven Boyd’s Armistice Capital owns 188,000 shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN), representing 1.93% of his 13F portfolio. The hedge fund doubled its investment in the pharmaceutical company and increased its stake by 124% in the second quarter of 2022, compared to the previous quarter.

On September 28, Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) announced that it had received FDA approval for Dupixent for the treatment of adult patients with prurigo nodularis, a chronic and debilitating skin disease. Dupixent is the first and only drug specifically indicated to treat this disease.

Earlier on September 16, Canaccord analyst John Newman raised the price target for Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) stock to $750 from $700 while maintaining a “Buy” rating.

As of the second quarter of 2022, shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) were held by 44 of the 895 hedge funds tracked by Insider Monkey, with a total value of $1.6 billion. Jim Simon’s Renaissance Technologies was the largest hedge fund shareholder, with ownership of 0.6 million shares valued at $345 million.

6. Travere Therapeutics, Inc. (NASDAQ:TVTX)

Value of Armistice Capital’s stake: $128,904,000

Percentage of Armistice Capital’s 13F portfolio: 2.24%

Number of hedge fund holders: 30

Based in San Diego, Calif., Travere Therapeutics, Inc. (NASDAQ: TVTX) is a biopharmaceutical company focused on developing therapies for rare diseases. Its product pipeline includes four approved drugs: Chenodal, Cholbam, Thiola and Thiola EC delayed-release tablets, while its R&D pipeline is led by sparsentan, a new product candidate targeting rare kidney diseases.

Steven Boyd’s Armistice Capital owns 5,320,000 shares of Travere Therapeutics, Inc. (NASDAQ: TVTX), which represents 2.24% of his 13F portfolio. The hedge fund increased its stake by 8% in the second quarter of 2022, compared to the previous quarter.

In August, Travere Therapeutics, Inc. (NASDAQ: TVTX) announced that the EMA had accepted for review the application for conditional marketing authorization for sparsentan for the treatment of IgAN, a rare kidney disease, with potential approval expected in the second half of 2023.

On Aug. 15, Piper Sandler analyst Do Kim lowered Travere Therapeutics, Inc. (NASDAQ:TVTX) stock price target to $39 from $41 while maintaining an “overweight” rating on stocks. shares.

As of the second quarter of 2022, 30 of the 895 hedge funds tracked by Insider Monkey were longtime Travere Therapeutics, Inc. (NASDAQ:TVTX), holding shares worth $704 million.

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Disclosure: none. 10 Best Pharma Stocks To Buy According To Steven Boyd’s Armistice Capital is originally published on Insider Monkey.