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

2. NGM Biopharmaceuticals, Inc. (NASDAQ: NGM)

Simons’ Stake Value: $43,412,000
Percentage of Jim Simons’ 13F Portfolio: 14.52%
Number of Hedge Fund Holders: 18

NGM Biopharmaceuticals, Inc. (NASDAQ: NGM) is a biopharmaceutical company, which discovers and develops medicines to treat liver and metabolic diseases, retinal infections, and cancer. The company stands second on the list 10 best pharma and biotech stocks to buy according to Jim Simons’ Euclidean Capital. NGM shares have offered investors returns of 19.97% over the course of the past 12 months.

On July 7, Piper kept an “Overweight” rating on the shares with a price target of $20. On July 1, NGM Biopharmaceuticals, Inc. (NASDAQ: NGM) extended its ongoing collaboration with Merck & Co., Inc. (NYSE: MRK). Under the terms of the altered collaboration, Merck will provide about $120 million in R&D funding to NGM through March 2024. The partnership will focus mainly on developing novel drugs in retinal, cardiovascular, and metabolic disorders. On May 6, NGM Biopharmaceuticals (NASDAQ: NGM) posted earnings for the first quarter of 2021. It reported earnings per share of -$0.36, beating market predictions by $0.05. 

Euclidean Capital owns 1.49 million shares in NGM Biopharmaceuticals, Inc. (NASDAQ: NGM) after reducing its holding by 29%. At the end of the first quarter of 2021, 18 hedge funds in the database of Insider Monkey held stakes worth $329.28 million in NGM Biopharmaceuticals, Inc. (NASDAQ: NGM), up from 13 the preceding quarter worth $231.63 million.