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Billionaire Israel Englander pours money into 2 “Strong Buy” shares
After the wild ride of 2020, where does the market go from here? Giant strides have been made in the COVID-19 vaccine race, but the near-term picture remains unclear, clouded by the resurgence of the virus and the stalled stimulus on Capitol Hill. In times like these, big investors can serve as inspiration, namely billionaire Israel “Izzy” Englander. Who exactly is England? The legend, who began trading stocks when he was in high school, began his career as an intern at the Oppenheimer investment firm, later buying a place on the US stock exchange, where he would work as a broker, trader and specialist. In 1989, together with Ronald Shear, Englander founded the hedge fund Millennium Management. As proof of his extraordinary experience, the guru took the $ 35 million with which the fund was started and turned it into over $ 40 billion of assets under management. With his personal net worth totaling $ 7.2 billion, it’s no wonder Wall Street pays attention when Englander makes a move. With that in mind, our focus has shifted to Millenium’s most recent 13F deposit. , which reveals the shares the fund acquired in the third quarter. By latching onto two tickers in particular, TipRanks’ database revealed that both names are gaining a strong buy analyst consensus. Furthermore, the community of analysts see enormous upside potential in store for each of them. G1 Therapeutics (GTHX) Bringing a deep understanding of cancer biology and broad drug discovery experience to the table, G1 Therapeutics works to develop therapies that could potentially improve the lives of patients battling the deadly disease. Ahead of a key regulatory decision, the road is beating the table on this name. During the third quarter, Englander and Millennium acquired a new stake in GTHX. By pulling the trigger on 555,937 shares, the holding’s value rises to $ 6,421,000. Speaking to the analyst community, Needham’s Chad Messer tells clients he has high hopes ahead of the February 15 PDUFA date for trilaciclib, his therapy designed to improve outcomes for cancer patients treated with chemotherapy. The therapy nondisclosure agreement was accepted in August for priority review based on the results of three randomized clinical trials in small cell lung cancer (SCLC), with the FDA indicating it does not plan to hold a committee meeting advisory (AdComm). the first CDK4 / 6 inhibitor to be used to treat chemo-induced bone marrow toxicity, Messer argues that the lack of an AdComm is “significant.” Exposing this, he said: “We believe this reflects the agency’s appreciation of the unmet need, comfort with the CDK4 / 6 class safety profile and efficacy profile of trilaciclib.” GTHX will also focus on the inclusion of trilaciclib in NCCN guidelines. It should also be noted that a pivotal Phase 3 study evaluating the candidate in metastatic colorectal cancer (mCRC) will begin later this year. In addition to the good news, GTHX and its partner, Boehringer Ingelheim, are preparing for the commercial launch of trilaciclib, with companies covering approximately 2,500 treating oncologists and providing educational material on using trilaciclib prior to treatment and the benefits of multi-lineage conservation.If that’s not enough, rintodestrant (its selective estrogen receptor degrader (SERD) under development for the treatment of estrogen receptor positive (ER +) breast cancer) plus the palbociclib combination study was able to finish enrollment earlier than expected, reflecting “the attractiveness of an all-oral treatment regimen during a global pandemic,” according to Messer. With a reading of the data expected for the second quarter of 2021, the analyst believes that a “positive reading could prove to be a significant value driver.” In keeping with his upbeat approach, Messer reiterated a buy rating and price target of $ 74, indicating upside potential of 417%. (To see Messer’s track record, click here) Do other analysts agree? They are. Over the past three months, only Buy ratings have been issued, 3 to be exact. Therefore, the message is clear: GTHX is a strong buy. Given the average price target of $ 59, the stock could rise 312% over the next year. (See GTHX stock analysis on TipRanks) Epizyme (EPZM) While fighting the good fight against cancer, as well as other serious diseases, Epizyme wants to find new treatments through new epigenetic drugs. Though the company faces headwinds regarding its recent product launch, several Street members believe big things are in store: Millenium bought 461,258 shares during the third quarter, with the purchase reflecting a new position for the hedge fund. As for the value of the holding, it stands at $ 5,503,000. Writing for Wedbush, 5-star analyst David Nierengarten points out that the pandemic has limited oncology visits and, therefore, sales of Tazverik (the company’s follicular lymphoma treatment) have fallen short of expectations. He points out that “the pandemic shifts the launch curve towards an ‘incidence model’ ‘rather than a prevalence model, as there is a limited pool of patients to draw from if they are delaying outpatient visits”, with patients in waiting to seek treatment until they experience symptoms of progression Additionally, although the launch is virtual and physician awareness is high, doctors are against prescribing a new drug without examining the patient in person. That said, Nierengarten remains optimistic about the therapy. “Despite these headwinds, Tazverik has come close to meeting our estimates and is gaining market share, including initial second-line sales. We expect the most significant second-line sales to start in 2021 and have incorporated them more gradually into our launch curve, “explained the analyst. When it comes time for therapy, Nierengarten argues that it’s too early to draw conclusions. , points out that the duration of the response was relatively long and that patients were treated after progression in the registration study. “Furthermore, headwind to therapy change turns into favorable wind for Tazverik maintenance once that a patient is in therapy. This is likely to contribute more significantly to 2H21 revenues and potential revenue outperformance, “he added. Summing up, Nierengarten commented: “At current levels, we believe investors are too negative about Tazverik’s potential and patience should be rewarded.” of the above, Nierengarten sided with the bulls, reiterating an Outperform rating and a price target of $ 27. This target conveys its confidence in EPZM’s ability to rise 122% higher in the coming year. (To see Nierengarten’s track record, click here) Most other analysts echo the Nierengarten sentiment. 3 purchases and 1 suspension add up to a strong purchase consensus rating. With an average price target of $ 23.25, the upside potential is 91%. (See EPZM Stock Analysis on TipRanks) To find good ideas for trading health stocks at attractive valuations, visit TipRanks ‘Best Stocks to Buys, a newly launched tool that combines all of TipRanks’ equity insights. Disclaimer: The views expressed in this article are only those of the analysts in attendance. The content is to be used for informational purposes only. It is very important to do your own analysis before making any investments.
