5 Best Pharmaceutical Stocks to Buy According to Billionaire Kerr Neilson

3. Intellia Therapeutics, Inc. (NASDAQ: NTLA)

Neilson’s Stake Value: $2,446,000
Percent of Kerr Neilson’s 13F Portfolio: 0.05%
Number of Hedge Fund Holders: 30

Intellia Therapeutics, Inc. (NASDAQ: NTLA) is a genome editing company that specializes in the development of curative therapeutics using CRISPR/Cas9 technology both in vivo and ex vivo. NTLA ranks 3rd in the list of best pharmaceutical stocks to buy according to billionaire Kerr Neilson.

Intellia recently announced its financial results for the Q1 FY 2021 with a drop in collaboration revenue by $6.5 million to $6.4 million. Collaboration revenue in Q1 FY 2020 amounted to $12.9 million.  The drop is attributed to the $5.0 million milestone payment from Novartis Institutes for BioMedical Research, Inc. (Novartis) for the IND submission of OTQ923 in 2020.

During the quarter, net loss totaled to $42.2 million compared to $31.8 million reported during the same period last year.

Early this year, Intellia Therapeutics, Inc. (NASDAQ: NTLA)  announced a number of updates, including the continued advancement of global Phase 1 study of NTLA-2001 which is being developed as curative single-course therapy for transthyretin amyloidosis (ATTR).  The company intends to submit an IND or IND-equivalent in mid-2021 for NTLA-5001 which is being developed for the treatment of acute myeloid leukemia (AML).