Pharma companies can be alluring because the ones that are planning to move new drugs to market can have huge upside. But some are expensive, and any setbacks could hurt the stock. Cheap pharma stocks are a better bet, Jacob Sonenshine writes in this week’s edition of Barron’s. Bristol Myers Squibb (BMY), Pfizer (PFE), Amgen (AMGN), and Gilead Sciences (GILD) trade at forward price/earnings multiples below the median of just under 13 times of the largest nine pharma companies, based on FactSet market-cap data, the publication says.
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