Gilead Sciences, Inc., Amgen, Inc., Biogen Idec Inc Among Billionaires’ 5 Hottest Biotech Picks

Biogen Idec Inc (NASDAQ:BIIB) is another favourite of Stanley Druckenmiller, as well as 6 other billionaires, as he increased his stake in the company focused on treating neurodegenerative diseases, hemophilia and autoimmune disorders, by a whopping 247%. The fund’s current stake amounts to 359,400 shares, having a market value of $122 million. Biogen Idec Inc (NASDAQ:BIIB) forms 11.96% of Duquesne Capital’s portfolio value.

The stock of this biotechnology firm is up nearly 20% year to date on the back of a strong fourth quarter earnings release. Earnings per share stood at $4.09 and were up 74% year-over-year. Revenues of $2.64 billion were also up nearly 34% year-over-year. With a $95.85 billion market cap, Biogen Idec Inc (NASDAQ:BIIB) is currently trading at a forward earnings multiple of 20.52.

Celgene Corporation (NASDAQ:CELG) is another favorite pick of billionaires in the biotechnology sector. 5 billionaires were invested in the company dedicated in treating cancer and immune-inflammatory related diseases. Their total investment in the company was valued at $201.8 million. Of these Stanley Druckenmiller of Duquesne Capital is the most prominent. Although he reduced his exposure in Celgene Corporation (NASDAQ:CELG) by 23% during the fourth quarter, the position still comprises of 4.76% of his fund’s portfolio value. The position constitutes of 434,100 shares and has a market value of $48.56 milliion. The stock price of Celgene Corporation (NASDAQ:CELG) is up 10.8% year to date. Moreover, the $97.81 billion market cap biotech firm has a forward earnings multiple of 19.57.

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