In this article, we discuss the 5 new stock picks of billionaire Ken Fisher. If you want to read our detailed analysis of these stocks, go directly to the 10 New Stock Picks of Billionaire Ken Fisher.
5. Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)
Number of Hedge Fund Holders: 16
Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) is a biotech firm that develops therapies for people with rare debilitating, chronic neuromuscular, and neurological diseases. Regulatory filings show that Fisher Asset Management owned 201,801 shares in the company at the end of the third quarter of 2021 worth over $1 million, representing a very small portion of the portfolio.
Piper Sandler analyst Joseph Catanzaro recently kept an Overweight rating on Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) stock and raised the price target to $7 from $6.5, forecasting organic growth for the firm on the back of new patient enrollments.
Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Armistice Capital is a leading shareholder in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) with 10 million shares worth more than $57 million.
4. Hewlett Packard Enterprise Company (NYSE:HPE)
Number of Hedge Fund Holders: 34
Hewlett Packard Enterprise Company (NYSE:HPE) operates as a diversified technology company. In earnings results for the third quarter, posted in September, the company beat market estimates on earnings per share by $0.05, a feat driven by the movement of businesses to digital and cloud environments.
According to the latest data, Fisher Asset Management owned 10,839 shares in Hewlett Packard Enterprise Company (NYSE:HPE) at the end of September 2021 worth $154,000, representing less than 0.1% of the portfolio of the fund.
At the end of the second quarter of 2021, 34 hedge funds in the database of Insider Monkey held stakes worth $1.01 billion in Hewlett Packard Enterprise Company (NYSE:HPE), up from 27 in the previous quarter worth $1.06 billion.
3. BridgeBio Pharma, Inc. (NASDAQ:BBIO)
Number of Hedge Fund Holders: 27
BridgeBio Pharma, Inc. (NASDAQ:BBIO) is a biotech firm that develops medicines for genetic diseases. Securities filings show that Fisher Asset Management owned 569,265 shares in the company at the end of the third quarter of 2021 worth $26.6 million, representing 0.01% of the portfolio.
On September 10, investment advisory Bank of America upgraded BridgeBio Pharma, Inc. (NASDAQ:BBIO) stock to Buy from Neutral with a price target of $75, underlining the potential of several pipeline drugs of the firm.
Among the hedge funds being tracked by Insider Monkey, Connecticut-based firm Viking Global is a leading shareholder in BridgeBio Pharma, Inc. (NASDAQ:BBIO) with 26 million shares worth more than $1.6 billion.
In its Q2 2021 investor letter, Baron Opportunity Fund, an asset management firm, highlighted a few stocks and BridgeBio Pharma, Inc. (NASDAQ:BBIO) was one of them. Here is what the fund said:
“BridgeBio Pharma, Inc. is a biotechnology company developing drugs that address a host of genetic disorders. Shares fell in the quarter given concerns around increasing competition. While we expect positive results from BridgeBio’s Phase 3 trial for its lead program for TTR amyloidosis, a disease in which toxic proteins build up in the heart and nerves, encouraging updates from Alnylam’s competing drug, Vitrusiran, and more recently, Intellia’s gene editing platform, pressured the stock. We exited our position.”
2. Blueprint Medicines Corporation (NASDAQ:BPMC)
Number of Hedge Fund Holders: 36
Blueprint Medicines Corporation (NASDAQ:BPMC) is a Cambridge-based precision therapy company. In July, the company had obtained regulatory approval for AYVAKIT, a drug developed for the treatment of a rare hematologic disorder. The company has a market cap of $6.7 billion and posted close to $800 million in revenue last year.
Fisher Asset Management owned 315,658 shares in Blueprint Medicines Corporation (NASDAQ:BPMC) at the end of September 2021 worth $32.4 million, representing 0.02% of the portfolio.
At the end of the second quarter of 2021, 36 hedge funds in the database of Insider Monkey held stakes worth $848 million in Blueprint Medicines Corporation (NASDAQ:BPMC), up from 31 in the preceding quarter worth $1 billion.
1. Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN)
Number of Hedge Fund Holders: 27
Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN) is a biopharma firm that makes and sells drugs for the treatment of neurological diseases and rare disorders. At the end of the third quarter of 2021, Fisher Asset Management owned 267,976 shares in the company worth $37.2 million, representing 0.02% of the portfolio.
Cantor Fitzgerald analyst Charles Duncan recently raised the price target on Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN) stock to $177 from $165 and kept an Overweight rating.
Among the hedge funds being tracked by Insider Monkey, London-based investment firm Marshall Wace LLP is a leading shareholder in Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN) with 2.7 million shares worth more than $265 million.
In its Q1 2021 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN) was one of them. Here is what the fund said:
“Biohaven Pharmaceutical Holding Company Ltd. is a biotechnology company dedicated to neurologic drug discovery. It launched its lead asset, migraine medication Nurtec, last year, and the company is transitioning towards profitability. Shares declined when Biohaven issued a secondary offering in March that took investors by surprise and seemed early in relation to an expected second indication for Nurtec in the prophylactic prevention of migraine, which expands its market. We exited our position.”
You can also take a peek at 10 Cheap Small-Cap Stocks to Buy and 10 Penny Stocks with Upcoming Growth Catalysts.
