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10 Biotech Stocks to Buy According to Matthew Strobeck’s Birchview Capital

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·8 min read
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In this article, we discuss 10 biotech stocks to buy according to Matthew Strobeck's Birchview Capital. If you want to skip our detailed analysis of Strobeck's history, investment philosophy, and hedge fund performance, go directly to 5 Biotech Stocks to Buy According to Matthew Strobeck's Birchview Capital.

Matthew Strobeck earned his Ph.D. from the University of Cincinnati and worked as a partner at Westfield Capital Management and as a consultant for Thomas Weisel Asset Management before launching Birchview Capital in 2014. He has held the position of chief investment officer and managing partner at Birchview Capital since February 1, 2014.

Birchview Capital is a Vermont-based hedge fund, which is primarily interested in investing in biosciences firms, spanning a wide range of areas from healthcare to the environment. Birchview Capital's purpose is to invest in undervalued growth possibilities and, if possible, participate in the development of these companies. The fund filed third-quarter 13F filings with the Securities and Exchange Commission (SEC), which revealed a $146.96 million US equities portfolio. Birchview Capital's top 10 holdings alone accounted for nearly 70.43% of the fund's total investments at the time, despite having 64 positions in its portfolio.

Among the essential large-cap biotech stocks are Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN), Amgen, Inc. (NASDAQ:AMGN), and Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX).

10 Biotech Stocks to Buy According to Matthew Strobeck's Birchview Capital
10 Biotech Stocks to Buy According to Matthew Strobeck's Birchview Capital

Matthew Strobeck of Birchview Capital

Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) develops, produces, and sells pharmaceuticals to treat various medical problems across the world. On January 5, BofA analyst Geoff Meacham downgraded Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) to Underperform from Neutral with a price target of $575, down from $675. Even though Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)'s Eylea and Dupixent are likely to grow in 2022, according to Meacham, consensus projections for both programs remain cautious and they face competitive hurdles.

Another notable biotech company is Amgen, Inc. (NASDAQ:AMGN). On January 26, BofA analyst Geoff Meacham initiated coverage of Amgen, Inc. (NASDAQ:AMGN), rating the stock as Overweight and setting a price target of $255.

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) is a multinational biotechnology business. After Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) posted Q4 earnings and provided a 2022 outlook, Jefferies analyst Michael Yee called Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) the top big-cap biotech company in the market. Therefore, on January 27, Yee kept a Buy rating on Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) shares and gave a price target of $275.

However, in this article, we lay our focus on biotech stocks to buy according to Matthew Strobeck's Birchview Capital.

Our Methodology

Here is a list of 10 biotech stocks to buy according to Matthew Strobeck's Birchview Capital. We used Strobeck's 13F portfolio for Q3 2021 for this analysis. The hedge fund data discussed is based on the 867 funds being tracked by Insider Monkey as of the third quarter of 2021.

Biotech Stocks to Buy According to Matthew Strobeck's Birchview Capital

10. Acceleron Pharma Inc. (NASDAQ:XLRN)

Birchview Capital Stake Value: $1,837,000

Percentage of Birchview Capital’s 13F Portfolio: 1.25%

Number of Hedge Fund Holders: 58

Acceleron Pharma Inc. (NASDAQ:XLRN) is a biotech business specializing in researching, developing, and marketing new treatments. Birchview Capital holds 10,672 shares in Acceleron Pharma Inc. (NASDAQ:XLRN), worth over $1.84 million, representing 1.25% of its Q3 portfolio.

On September 30, Merck & Co., Inc. (NYSE:MRK) purchased Acceleron Pharma Inc. (NASDAQ:XLRN) through a subsidiary for an estimated total equity value of $11.5 billion. On January 28, JPMorgan analyst Chris Schott cut his price objective on Merck & Co., Inc. (NYSE:MRK) to $95 from $100 and maintained an Overweight rating on the stock. The analyst does not foresee any big surprises with Merck & Co., Inc. (NYSE:MRK)'s 2022 projection.

The number of hedge funds tracked by Insider Monkey having stakes in Acceleron Pharma Inc. (NASDAQ:XLRN) grew to 58 in Q3, up from 43 funds in the preceding quarter. These stakes hold a consolidated value of $2.61 billion, up from $1.58 billion.

Just like Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN), Amgen, Inc. (NASDAQ:AMGN), and Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX), Acceleron Pharma Inc. (NASDAQ:XLRN) is one of the notable biotech stocks gaining the attention of investors.

9. Prothena Corporation plc (NASDAQ:PRTA)

Birchview Capital Stake Value: $2,867,000

Percentage of Birchview Capital’s 13F Portfolio: 1.95%

Number of Hedge Fund Holders: 25

Prothena Corporation plc (NASDAQ:PRTA) is a global biotechnology company specializing in the research, production, and marketing of immunotherapies for disorders involving protein misfolding and cell adhesion. According to the 13F filings for the third quarter of 2021, Birchview Capital holds 40,247 shares of Prothena Corporation plc (NASDAQ:PRTA), amounting to more than $2.87 million, representing 1.95% of the fund’s portfolio value.

On November 19, JMP Securities analyst Gobind Singh initiated coverage of Prothena Corporation plc (NASDAQ:PRTA), rating the stock as Outperform and setting a price target of $77. EcoR1 Capital, with 11.28 million shares, is the most significant stakeholder in the company.

As of the end of the third quarter, 25 hedge funds in Insider Monkey's database held stakes in Prothena Corporation plc (NASDAQ:PRTA), an increase as compared to 20 funds in the preceding quarter.

8. United Therapeutics Corporation (NASDAQ:UTHR)

Birchview Capital Stake Value: $3,322,000

Percentage of Birchview Capital’s 13F Portfolio: 2.26%

Number of Hedge Fund Holders: 52

United Therapeutics Corporation (NASDAQ:UTHR) is a biotechnology business that develops and commercializes treatments for people suffering from chronic and life-threatening illnesses. UHeart, the world's first recipient of a genetically modified xenotransplanted organ created by United Therapeutics (NASDAQ:UTHR), reached the two-week milestone in January.

The hedge fund of Matthew Strobeck entered the third quarter of 2021 with 18,000 shares of United Therapeutics (NASDAQ:UTHR) in its portfolio, worth around $3.32 million. United Therapeutics (NASDAQ:UTHR) has featured on Strobeck’s portfolio since the fourth quarter of 2019.

United Therapeutics (NASDAQ:UTHR) is also getting the attention of the smart money, as 52 hedge funds tracked by Insider Monkey reported owning stakes in the company at the end of the third quarter, up from 45 funds a quarter earlier.

7. Albireo Pharma, Inc. (MASDAQ:ALBO)

Birchview Capital Stake Value: $3,526,000

Percentage of Birchview Capital’s 13F Portfolio: 2.39%

Number of Hedge Fund Holders: 13

Albireo Pharma, Inc. (MASDAQ:ALBO) is a biotechnology firm that focuses on developing therapeutic medications for gastrointestinal disorders. H.C. Wainwright analyst Ed Arce boosted his price objective on Albireo Pharma, Inc. (MASDAQ:ALBO) to $80 from $79 on November 5, and maintained a Buy rating on the stock following the Q3 results.

Matthew Strobeck's Birchview Capital increased its position in Albireo Pharma, Inc. (MASDAQ:ALBO) by 2% in the third quarter, ending the period with 113,000 shares of the company. The fund has a $3.53 million stake in the company.

At the end of the third quarter of 2021, 13 hedge funds in the database of Insider Monkey held stakes worth $143.41 million in Albireo Pharma, Inc. (MASDAQ:ALBO), down from 15 funds in the preceding quarter, holding stakes in the company equalling $168.81 million.

6. Biogen Inc. (NASDAQ:BIIB)

Birchview Capital Stake Value: $3,566,000

Percentage of Birchview Capital’s 13F Portfolio: 2.42%

Number of Hedge Fund Holders: 66

Biogen Inc. (NASDAQ:BIIB) is a biotechnology business that focuses on neurological disorders such as multiple sclerosis, Alzheimer's disease, Parkinson's disease, and amyotrophic lateral sclerosis. Biogen Inc. (NASDAQ:BIIB) decided to participate in the research and commercialization of the treatment for B-cell non-lymphoma Hodgkin's on February 1.

Before Biogen Inc. (NASDAQ:BIIB)'s Q4 earnings, Barclays analyst Carter Gould trimmed his price objective on Biogen Inc. (NASDAQ:BIIB) to $244 from $280 and maintained an Equal Weight rating on the stock on January 20. Gould wrote in a research note that the company is at a decision point ahead of near-term events.

66 hedge funds in our database held stakes in Biogen Inc. (NASDAQ:BIIB) at the end of the third quarter, compared to 67 funds in the second quarter.

Along with Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN), Amgen, Inc. (NASDAQ:AMGN), and Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX), Biogen Inc. (NASDAQ:BIIB) is one of the biotech stocks on the radar of smart investors.

In its second-quarter 2021 investor letter, Miller Value Partners highlighted a few stocks and Biogen Inc. (NASDAQ:BIIB) is one of them. Here is what the fund said:

“We started building a position in Biogen (BIIB) following the approval in early June of Aduhelm, their controversial Alzheimer’s drug. The stock initially traded up to an intra-day high of $468.55 and subsequently traded down to a low of $340.27 near the end of June. We believe the significant unmet need will lead to higher than expected demand for the drug.”

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Disclosure: None. 10 Biotech Stocks to Buy According to Matthew Strobeck's Birchview Capital is originally published on Insider Monkey.