Billionaire investor Steve Cohen believes that a recession is on the horizon, but he expects it to be short-lived. Cohen, who runs hedge fund Point72 Asset Management, predicts that a recession will occur before the end of the year but remains positive about the economy in the long term. Cohen has been investing heavily in equities that he believes will perform well in this environment. One of his recent investments is in Crinetics Pharmaceuticals, a biotech company focused on developing treatments for endocrine diseases. The company recently released positive data from a Phase 3 study of its lead candidate, which demonstrated strong effectiveness in treating acromegaly. Cohen purchased over 4 million shares of the company during the third quarter. Analysts also have a positive outlook on the stock, with one analyst stating that the drug’s chances of success are high. Another company that Cohen has invested in is Inspire Medical Systems, which develops medical devices for the treatment of obstructive sleep apnea. Despite a recent sell-off in the stock, Cohen increased his stake in the company during the third quarter. Analysts believe that the pullback presents an attractive buying opportunity, as the company is on track for strong growth. The stock has a consensus rating of Strong Buy. Cohen’s investments reflect his optimistic outlook on the economy and his confidence in these companies’ growth prospects.
Why You Should Follow Steve Cohen’s Lead and Invest Big in These 2 ‘Strong Buy’ Stocks
