Rags to riches is a common trope in our storytelling. Some people actually live it, and few more so than hedge fund billionaire Israel Englander.
Using $35 million in seed money, Englander started Millennium Management – and by 2019 his firm was managing over $39 billion. As of this year, that number is up to $57 billion. In 2020, Millennium brought in a total of $10.2 billion for its investors, and Englander took home $3.8 billion in personal earnings – which made him the highest paid fund manager on Wall Street.
So, investors seeking strong returns can do a lot worse than to follow Englander’s stock buys. We’ve done just that, using the TipRanks platform to pull up details on three stocks in which Englander staked out new positions. The platform revealed that each has earned a “Strong Buy” analyst consensus and boasts significant upside potential. Let's take a closer look.
We'll start with Nuvation, a clinical-stage biopharma company involved in oncological research. Nuvation is investigating ‘differentiated and novel’ therapeutic agents, testing their potential to meet unmet needs in cancer treatment. The company’s pipeline, which features new drug candidates for the treatment of a wide range of cancers is mostly in the preclinical stages - but there is one Phase 1 study with enrollment ongoing.
That study focuses on drug candidate NUV-422, a CDK 2/4/6 inhibitor, as a treatment for high grade gliomas, a form of brain cancer. Preclinical testing showed that the drug crossed the blood-brain barrier, and limits various causes of toxicity. The Phase 1/2 study was started in December of last year, and continues to enroll patients. The company expects to release data from the Phase 1 portion of the study next year.
In addition to this study, the company has recently announced FDA clearance for two new Investigational New Drug Applications for NUV-22, in the treatment of prostate cancer and advanced breast cancer. Nuvation has several more INDAs planned for submission by 2026, in the treatment of various solid tumors and hematologic cancers.
SOURCE : Yahoo
