Summers Value Partners, an investment management firm, published its “Summers Value Fund LP” first quarter 2021 investor letter – a copy of which can be downloaded here. A net return of 17.5% was delivered by the fund for the Q1 of 2021, outperforming its e Russell 2000 benchmark that delivered a 12.9% return, but below the Russell Micro-Cap Index that had a 24.0% gain in the same period. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.
Summers Value Partners, in their Q1 2021 investor letter, mentioned Eagle Pharmaceuticals, Inc. (NASDAQ: EGRX) and shared their insights on the company. Eagle Pharmaceuticals, Inc. is a Woodcliff Lake, New Jersey-based biotechnology company that currently has a $578.2 million market capitalization. Since the beginning of the year, EGRX delivered a -6.06% return, while its 12-month return is also down by -13.07%. As of April 21, 2021, the stock closed at $43.75 per share.
Here is what Summers Value Partners has to say about Eagle Pharmaceuticals, Inc. in their Q1 2021 investor letter:
“We exited our position in Eagle Pharmaceuticals (EGRX) in the first quarter after a series of pipeline setbacks. Eagle was the Fund’s smallest position at year end 2020. We had owned the stock since our inception and ended up taking a small loss on the position. Other than our sale of Eagle, we did not make any changes in the first quarter and our trading activity was limited.”
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Our calculations show that Eagle Pharmaceuticals, Inc. (NASDAQ: EGRX) does not belong in our list of the 30 Most Popular Stocks Among Hedge Funds. As of the end of the fourth quarter of 2020, Eagle Pharmaceuticals, Inc. was in 18 hedge fund portfolios, compared to 16 funds in the third quarter. EGRX delivered a -9.01% return in the past 3 months.
The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.
At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, Federal Reserve has been creating trillions of dollars electronically to keep the interest rates near zero. We believe this will lead to inflation and boost real estate prices. So, we recommended this real estate stock to our monthly premium newsletter subscribers. We go through lists like the 15 best innovative stocks to buy to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our website:
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