10 Best Multibagger Stocks to Buy According to Billionaires

4. Verona Pharma plc (NASDAQ:VRNA)

Number of Hedge Fund Holders: 42

Number of Billionaire Holders: 10

1-Year Gain as of April 22: 282.12%

Verona Pharma plc (NASDAQ:VRNA) is a biopharmaceutical company that develops and commercializes innovative therapies for chronic respiratory diseases. It specializes in treatments for conditions like COPD, with its leading product candidate, ensifentrine, being an investigational drug. It is also turning out to be one of the best-performing stocks in the sector, going by the 282% gain over the past year. Likewise, on April 21, Cantor Fitzgerald initiated coverage of the stock with an $80 price target and an Overweight rating.

The stock’s sentiments have received a significant boost following the approval of the flagship drug Ohtuvayre for the treatment of chronic obstructive pulmonary disease by the US Food and Drug Administration. Sales from the drug are projected to top $1 billion by 2029, having surged to $42 million by 2024.

Verona Pharma plc (NASDAQ:VRNA), a development partner for greater China, Nuance Pharma, has already secured approval for the Ohtuvayre launch in Macau. The launch is poised to strengthen the company’s revenue base outside the US. In addition to Ohtuvayre, Verona is also strengthening its pipeline with plans for two phase 2 clinical trials for glycopyrrolate, a long-acting muscarinic antagonist and glycopyrrolate for the maintenance treatment of COPD.