Today we are going to take a look at the best large biotech stocks to buy now, published by Insider Monkey recently. What are biotech companies? Well, they operate in research on novel drug development and clinical research in order to cure diseases and improve medical conditions. Actually, those investors prefer biotech stocks who want to gain large returns in the short-run. They generally mean high risk but high return investments. According to Insider Monkey’s research, the estimated global biotechnology industry is predicted to reach $727.1 billion by 2025 and at a CAGR of 7.4%. As a matter of fact, among countries the United Sates dominates the biotechnology market by a wide margin. In the article you will read about the largest biotech stocks from iShares Nasdaq Biotechnology ETF (IBB).
After all this introduction, you must be eager to know which are the best biotech stocks to buy. We have picked two companies from Insider Monkey’s list, as usual. On the fifth spot there’s Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) with 55 hedge funds and a total value of hedge fund holdings of $3.4 Billion. Pharmaceuticals Incorporated is a biopharmaceutical company and is among the first firms to use an explicit strategy of rational drug design. The company operates in creating medicines to cure diseases and improve people’s lives. Vertex reported a revenue of $1.54 billion, which means a 62% increase compared to the same quarter of 2019. Jim Simon’s Renaissance Technologies is the top hedge holder having $1.416 billion invested in the stock at the end of the third quarter. On the third spot we can find Biogen, Inc. (NASDAQ:BIIB) with 59 hedge funds and a total value of hedge funds holdings of $3.2 Billion. Biogen Inc. is a multinational biotechnology company that operates in immunology, neurology, oncology. During the third quarter of 2020, the company reported total revenue of $3,376 million. If you want to gain more arresting information, please click the best large biotech stocks to buy now.