10 Best Australian Stocks to Buy According to Billionaires

4. Opthea Limited (NASDAQ:OPT)

Number of Hedge Fund Holders: 4

Number of Billionaire Investors: 3

Total Value of Billionaire Holdings: $8.87 million

Opthea Limited (NASDAQ:OPT) is an Australian biopharmaceutical company that focuses on creating new treatments for eye diseases like wet age-related macular degeneration and diabetic macular edema. Its main product, sozinibercept, is undergoing Phase 3 clinical trials to test its effectiveness when combined with standard treatments for wet age-related macular degeneration and diabetic macular edema.

On March 3, JonesTrading analyst Debanjana Chatterjee maintained a Buy rating on the stock with a price target of $13. Chatterjee is optimistic about the Phase 3 trials, which are expected to provide significant data in early to mid-2025. The analyst is confident that sozinibercept will demonstrate vision improvement, especially when combined with aflibercept. Moreover, the analyst also views Opthea Limited’s (NASDAQ:OPT) financial position as robust, with $131.9 million in cash and equivalents, which should last into the third quarter of 2025. This supports the potential for a Biologics License Application (BLA) filing in the first half of 2026 and a possible U.S. launch in 2027. It is one of the best Australian stocks to buy according to billionaires.