5 Best Pharmaceutical Stocks to Buy According to Billionaire Kerr Neilson

2. Blueprint Medicines Corporation (NASDAQ: BPMC)

Neilson’s Stake Value: $3,042,000
Percent of Kerr Neilson’s 13F Portfolio: 0.06%
Number of Hedge Fund Holders: 38

Blueprint Medicines Corporation (NASDAQ: BPMC) is a precision therapy company that focuses on developing treatments for various types of cancer. BPMC ranks 2nd in the list of best pharmaceutical stocks to buy according to billionaire Kerr Neilson.

The company recently announced financial results for the Q1 2021, with revenues amounting to $21.6 million. This includes $12.6 million in collaboration revenues, $1.8 million of net product revenues from sales of GAVRETO, and $7.1 million of net product revenues from sales of AYVAKIT/AYVAKYT.

During the quarter, the company reported $99.7 million or $1.72 per share in net loss compared to $111.0 million or $2.11 per share in net loss reported during the same period a year later.

Blueprint Medicines (NASDAQ:BPMC) recently announced data for its systemic mastocytosis (SM) program, which show that its Ayvakit (avapritinib) treatment saw a complete remission in 75% of the patients in trial.

Earlier in March, National Medical Products Administration approved Gavreto to treat adult patients with non-small cell lung cancer. Gavreto was discovered by Blueprint, which later collaborated with CStone to devlop and commercialize pralsetinib.