5 Biotech Stocks to Buy Today According to Kerr Neilson’s Platinum Asset Management

1. Gilead Sciences, Inc. (NASDAQ:GILD)

Platinum Asset Management’s Stake Value: $81 million

Percentage of Platinum Asset Management’s 13F Portfolio: 2.26%

Number of Hedge Fund Holders: 54

Gilead Sciences, Inc. (NASDAQ:GILD) is a biotechnology company headquartered in Foster City, California. The company develops treatments for several diseases such as HIV/AIDS, COVID-19, and liver diseases.

For its Q4 2021 portfolio, Platinum Asset Management owned 1.1 million Gilead Sciences, Inc. (NASDAQ:GILD) shares that were worth $81 million and represented 2.26% of its investment portfolio. For the same time period, 54 of the 924 hedge funds polled by Insider Monkey had invested in the firm.

By the end of its fiscal Q4, Gilead Sciences, Inc. (NASDAQ:GILD) had earned $7.2 billion in revenue and $0.26 in non-GAAP EPS, beating analyst estimates for a strong set of results. Piper Sandler increased the company’s price target to $72 from $71 in April 2022, as it highlighted that cautious optimism due to the FDA lifting its hold for a drug, which could translate into gains.

Gilead Sciences, Inc. (NASDAQ:GILD)’s largest investor is John Allison’s Unio Capital which owns 138,307 shares worth $782 million.

ClearBridge Investments mentioned the company in its fourth quarter 2021 investor letter. Here is what the fund said:

“Other pharma companies are providing solutions as well. Biopharmaceutical company Gilead Sciences’ remdesivir, sold under the brand name Veklury, is a broad-spectrum antiviral medication administered by intravenous infusion; it can shorten the time to recovery in hospitalized patients and reduce the risk of hospitalization and death in non-hospitalized patients.”

Disclosure: None. You can also take a peek at the 10 Cryptocurrencies to Watch Amid Russia’s Attack on Ukraine and 15 Best Warren Buffett Stocks to Buy Now.