5 Pharmaceutical Stocks to Buy Now According to Billionaire Kerr Neilson

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In this article, we will look at 5 pharmaceutical stocks to buy now according to billionaire Kerr Neilson. If you want to read about Kerr Neilson’s investment philosophy and Platinum Asset Management’s past performance, you can go to 10 Pharmaceutical Stocks to Buy Now According to Billionaire Kerr Neilson.

5. Prometheus Biosciences, Inc. (NASDAQ:RXDX)

Stake Value of Platinum Asset Management: $20,621,000 

Percentage of Platinum Asset Management’s 13F Portfolio: 0.57%

Number of Hedge Fund Holders: 13

Prometheus Biosciences, Inc. (NASDAQ:RXDX) is a biopharmaceutical company involved in the discovery, development, and commercialization of therapeutics and diagnostics products for the treatment of inflammatory bowel diseases.

This February, BTIG analyst Julian Harrison initiated coverage of Prometheus Biosciences, Inc. (NASDAQ:RXDX) with a Buy rating and a $62 price target. The analyst is bullish on the stock, noting that the company’s precision medicine platform in autoimmune diseases has the potential to improve outcomes, reduce trial costs, and ultimately drive the utilization of approved therapeutics.

On March 9, 2022, the company reported fourth-quarter 2021 revenues of $1.04 million and beat revenue estimates by $0.42 million. As of April 13, Prometheus Biosciences, Inc. (NASDAQ:RXDX) has gained 67.29% over the past twelve months and is worth $1.39 billion on the open market.

Insider Monkey was able to identify 13 hedge funds that were bullish on Prometheus Biosciences, Inc. (NASDAQ:RXDX) at the end of the fourth quarter of 2021. The total stakes of these funds in the company equaled $373.24 million. This is compared to 14 positions in the prior quarter with stakes worth $255.2 million. The hedge fund sentiment around Prometheus Biosciences, Inc. (NASDAQ:RXDX) is positive.

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