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

3. ORIC Pharmaceuticals, Inc. (NASDAQ: ORIC)

Simons’ Stake Value: $24,420,000
Percentage of Jim Simons’ 13F Portfolio: 8.17%
Number of Hedge Fund Holders: 13

ORIC Pharmaceuticals, Inc. (NASDAQ: ORIC) is a clinical-stage biopharmaceutical company that discovers and develops medicines to treat cancers. It ranks third on the list 10 best pharma and biotech stocks to buy according to Jim Simons’ Euclidean Capital. ORIC currently has a $19.1 billion market capitalization.

On July 6, Citi analyst Yigal Nochomovitz upgraded ORIC Pharmaceuticals, Inc. (NASDAQ: ORIC) from “Neutral” to “Buy” with a price target of $34. On June 28, ORIC Pharmaceuticals announced that the U.S. FDA cleared the company’s experimental new drug application for ORIC-533 to progress into a first-in-human clinical study. ORIC-533 plays a primary role in resistance to chemotherapy and immunotherapy-based treatment regimens.

Euclidean Capital holds 996,734 shares in ORIC Pharmaceuticals, Inc. (NASDAQ: ORIC) worth over $24 million, representing 8.17% of their portfolio. The hedge fund has trimmed stakes in the firm by 29% in the past few months. Out of the hedge funds being tracked by Insider Monkey, EcoR1 Capital is a leading shareholder in ORIC Pharmaceuticals, Inc. (NASDAQ: ORIC) with 3.09 million shares worth $75.76 million.