Billionaire Jim Simons - ARRY
Sept 13, 2017 1:08:54 GMT
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Post by stcks on Sept 13, 2017 1:08:54 GMT
Billionaire Jim Simons Pulls the Trigger on Array Biopharma Inc (ARRY)...
www.smarteranalyst.com/2017/09/11/worlds-smartest-billionaire-jim-simons-pulls-trigger-array-biopharma-inc-arry-valeant-pharmaceuticals-intl-inc-vrx-exits-synergy-pharmaceuticals-inc-sgyp/
Three key biopharma trades from the highly-successful $78 billion Renaissance fund
Harriet Lefton
Hedge fund guru Jim Simons, founder of the $78 billion Renaissance Technologies fund, has made some intriguing biopharma moves in the last quarter. He turned bullish on Array Biopharma Inc (NASDAQ:ARRY) and Valeant Pharmaceuticals Intl Inc (NYSE:VRX), but became more bearish on Synergy Pharmaceuticals Inc (NASDAQ:SGYP).
Simons, “the world’s smartest billionaire” according to the Financial Times, is also one of the richest. With a personal wealth of $18 billion, Simons is an award-winning mathematician and professor who began his working life cracking Cold War codes. He recently described how math influenced his investing: “In looking at the data, after a while I realized: it looks like there’s some structure here. And I hired a few mathematicians, and we started making some models — just the kind of thing we did back at IDA [Institute for Defense Analyses]. You design an algorithm — you test it out on a computer. Does it work? Doesn’t it work? And so on.”
And as the founder of one of the world’s best hedge funds, Simon’s trades are tracked closely by investors. The fund uses a quantitative trading fund based on carefully formulated mathematical and statistical methods. “Renaissance is the commercial version of the Manhattan Project,” says MIT finance professor Andrew Lo. He concludes: “They are the pinnacle of quant investing. No one else is even close.” As well as its investor fund, Renaissance is also famous for its highly-secretive employee-only Medallion Fund which uses high frequency trading to exploits inefficiencies in the stock market. Bloomberg estimates this fund has made a huge profit over the last 30 years of about $55 billion and concludes “the fund almost never loses money.”
So bearing this in mind, let’s delve in and take a closer look at these three stock moves:
Array Biopharma Inc
In the last quarter, Simons added Array Biopharma to the fund’s portfolio. Array BioPharma is focused on the discovering, developing and commercializing targeted small molecule drugs to treat patients with cancer. The fund picked up 990,441 ARRY shares valued at $8.29 million. And as a result, Simons has benefited from the stock’s recent 17% share price leap.
Shares rose on the news of positive data from a Phase 3 clinical trial, BEACON CRC, assessing the combination of three drugs for the treatment of colorectal cancer (CRC). In particular, the study examined the effect of binimetinib, encorafenib and Eli Lilly’s Erbitux (cetuximab) in CRC patients with very poor prognosis. Specifically, the study looked at patients whose disease has progressed after one or two prior courses of therapy. Out of the 30 patients treated with the trial drug, the confirmed overall response rate (ORR) was 41%, including one complete responder. Most impressively, almost all the patients showed some form of tumor regression and generally tolerated the drug well.
Following the news, Piper Jaffray analyst Edward Tenthoff reiterated his buy rating with a $14 price target. He calls the news ‘encouraging’ and expects approval of binimetinib and encorafenib in BRAF-mutant melanoma in 2018. Meanwhile Cantor Fitzgerald Mara Goldstein adds that “ARRY’s e-poster presentation of the safety lead in for the Phase III BEACON CRC study suggests that binimetinib/encorafenib could expand its market potential to colorectal cancer, which the shares do not currently reflect, in our view.”
Overall, the stock has a very bullish consensus from the Street. In the last three months, the stock has received six back to back ratings. While the stock has spiked, the average analyst price target of $12.60 suggests the stock has further room to grow of close to 15% over the next 12 months.
www.smarteranalyst.com/2017/09/11/worlds-smartest-billionaire-jim-simons-pulls-trigger-array-biopharma-inc-arry-valeant-pharmaceuticals-intl-inc-vrx-exits-synergy-pharmaceuticals-inc-sgyp/
Three key biopharma trades from the highly-successful $78 billion Renaissance fund
Harriet Lefton
Hedge fund guru Jim Simons, founder of the $78 billion Renaissance Technologies fund, has made some intriguing biopharma moves in the last quarter. He turned bullish on Array Biopharma Inc (NASDAQ:ARRY) and Valeant Pharmaceuticals Intl Inc (NYSE:VRX), but became more bearish on Synergy Pharmaceuticals Inc (NASDAQ:SGYP).
Simons, “the world’s smartest billionaire” according to the Financial Times, is also one of the richest. With a personal wealth of $18 billion, Simons is an award-winning mathematician and professor who began his working life cracking Cold War codes. He recently described how math influenced his investing: “In looking at the data, after a while I realized: it looks like there’s some structure here. And I hired a few mathematicians, and we started making some models — just the kind of thing we did back at IDA [Institute for Defense Analyses]. You design an algorithm — you test it out on a computer. Does it work? Doesn’t it work? And so on.”
And as the founder of one of the world’s best hedge funds, Simon’s trades are tracked closely by investors. The fund uses a quantitative trading fund based on carefully formulated mathematical and statistical methods. “Renaissance is the commercial version of the Manhattan Project,” says MIT finance professor Andrew Lo. He concludes: “They are the pinnacle of quant investing. No one else is even close.” As well as its investor fund, Renaissance is also famous for its highly-secretive employee-only Medallion Fund which uses high frequency trading to exploits inefficiencies in the stock market. Bloomberg estimates this fund has made a huge profit over the last 30 years of about $55 billion and concludes “the fund almost never loses money.”
So bearing this in mind, let’s delve in and take a closer look at these three stock moves:
Array Biopharma Inc
In the last quarter, Simons added Array Biopharma to the fund’s portfolio. Array BioPharma is focused on the discovering, developing and commercializing targeted small molecule drugs to treat patients with cancer. The fund picked up 990,441 ARRY shares valued at $8.29 million. And as a result, Simons has benefited from the stock’s recent 17% share price leap.
Shares rose on the news of positive data from a Phase 3 clinical trial, BEACON CRC, assessing the combination of three drugs for the treatment of colorectal cancer (CRC). In particular, the study examined the effect of binimetinib, encorafenib and Eli Lilly’s Erbitux (cetuximab) in CRC patients with very poor prognosis. Specifically, the study looked at patients whose disease has progressed after one or two prior courses of therapy. Out of the 30 patients treated with the trial drug, the confirmed overall response rate (ORR) was 41%, including one complete responder. Most impressively, almost all the patients showed some form of tumor regression and generally tolerated the drug well.
Following the news, Piper Jaffray analyst Edward Tenthoff reiterated his buy rating with a $14 price target. He calls the news ‘encouraging’ and expects approval of binimetinib and encorafenib in BRAF-mutant melanoma in 2018. Meanwhile Cantor Fitzgerald Mara Goldstein adds that “ARRY’s e-poster presentation of the safety lead in for the Phase III BEACON CRC study suggests that binimetinib/encorafenib could expand its market potential to colorectal cancer, which the shares do not currently reflect, in our view.”
Overall, the stock has a very bullish consensus from the Street. In the last three months, the stock has received six back to back ratings. While the stock has spiked, the average analyst price target of $12.60 suggests the stock has further room to grow of close to 15% over the next 12 months.
But...very interesting, Miami
But...for me...I have enough, be it ever so humble. Miami