Is Biogen (BIIB) A Good Stock To Buy Now?

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Miller Value Partners recently released its Q2 2021 Investor Letter, a copy of which you can download here. The Miller Opportunity Trust Class I gained 4.18%, underperforming its benchmark, the S&P 500 Index which returned 8.55% in the same quarter. You should check out Miller Value Partners’ top 5 stock picks for investors to buy right now, which could be the biggest winners of this year.

In the Q2 2021 Investor Letter, the fund highlighted a few stocks and Biogen Inc. (NASDAQ:BIIB) is one of them. Biogen Inc. (NASDAQ:BIIB) is a biotechnology company. In the last three months, Biogen Inc. (NASDAQ:BIIB) stock lost 21%. 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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In August, we published an article revealing that Biogen Inc. (NASDAQ:BIIB) was one of the 5 stocks Warren Buffett is selling.

In Q1 2021, the number of bullish hedge fund positions on Biogen Inc. (NASDAQ:BIIB) stock remained unchanged from the previous quarter (see the chart here). Our calculations showed that Biogen Inc. (NASDAQ:BIIB) isn’t ranked among the 30 most popular stocks among hedge funds.

The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

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Disclosure: None. This article is originally published at Insider Monkey.