Billionaire Cliff Asness’ Top 5 Healthcare Stock Picks

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1. Bristol-Myers Squibb Company (NYSE:BMY)

AQR Capital Management’s Stake Value: $1,797,126,523

Number of Hedge Fund Holders: 83

Bristol-Myers Squibb Company (NYSE:BMY) is one of billionaire Cliff Asness’ top 10 healthcare stock picks. On June 3, Arcus Biosciences announced a clinical trial collaboration and supply agreement with Bristol-Myers Squibb Company (NYSE:BMY), where Arcus’s investigational kidney cancer drug, casdatifan, will be added to Bristol-Myers’s ongoing Phase 1/2 ROSETTA RCC-208 trial. The trial focuses on pumitamig, an investigational bispecific antibody being jointly developed by BioNTech and Bristol Myers Squibb targeting patients with advanced renal cell carcinoma (RCC).

Arcus said that it will supply casdatifan for use in two new treatment arms that will be added to the existing ROSETTA RCC-208 trial structure. However, both companies retain full development and commercial rights to their respective drugs.

Arcus CEO Terry Rosen, Ph.D., noted that this collaboration with Bristol-Myers is strategic and that it is “a top priority for Arcus in order to potentially deliver an additional effective TKI-free option in the first-line setting.”

Separately, on June 8, Bristol-Myers launched “Investigating Myeloma”, a multiple myeloma awareness campaign in partnership with actress and advocate Mariska Hargitay. Hargitay is best known for her 27-year run as Detective Olivia Benson on Law & Order: SVU, and she lost her father to the disease 20 years ago.

Bristol-Myers Squibb Company (NYSE:BMY) is a biopharmaceutical company. It discovers, develops, and commercializes prescription medicines in oncology, immunology, cardiovascular, and neuroscience.

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READ NEXT: 10 Best Stocks to Buy Now for Good Returns and 10 Best Growth Stocks to Buy According to Billionaire Dan Loeb.

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