5 Best Pharma and Biotech Stocks to Buy According to Jim Simons’ Euclidean Capital

4. Alector, Inc. (NASDAQ: ALEC)

Simons’ Stake Value: $19,755,000
Percentage of John Khoury’s 13F Portfolio: 6.6%
Number of Hedge Fund Holders: 15

Alector, Inc. (NASDAQ: ALEC) is a clinical-stage biopharmaceutical company that develops medicines to treat neurological diseases. It was founded in 2013 and ranks fourth on the list of 10 best pharma and biotech stocks to buy according to Jim Simons’ Euclidean Capital. Alector shares have gained about 39.65% over the last 12 months.

On July 7, Citi analyst Neena Bitritto-Garg raised the price target on Alector, Inc. (NASDAQ: ALEC) to $43 from $31 and reiterated a “Buy” rating on the shares. On July 2, Alector, Inc. (NASDAQ: ALEC) and GlaxoSmithKline plc (NYSE: GSK) made public a global partnership to research two monoclonal antibodies, AL001 and AL101. The antibodies are designed to enhance progranulin, a compound controlling the immune activity in the brain with genetic connections to several neurodegenerative diseases.

Euclidean Capital holds 980,894 shares in Alector, Inc. (NASDAQ: ALEC) worth $19.76 million, representing 6.6% of its portfolio. Casdin Capital is a leading shareholder in Alector with 1.65 million shares worth more than $33 million.