The headlines have been busy recently about the heavy losses markets have taken this year, and that we’re in bear territory. But the real story of this year’s stock action isn’t so much the losses as it is the volatility. The wide swings in trading from day to day or week to week, overlaid on the downward trend, have generated more than their share of investor confusion.
In times like these, when the trends are conflicting and the forecasts uncertain, the investing greats can serve as a source of inspiration, namely billionaire Israel “Izzy” Englander.
Englander has been working on the trading scene since 1977, started his hedge fund, Millennium Management, in 1989, and since then has built it up into one of the market’s giants. His firm holds over $54.5 billion in total assets under management, and with his personal net worth clocking in at near $11 billion, it’s no wonder Wall Street pays attention when Englander makes a move.
Turning to Englander for inspiration, we took a closer look at two stocks Englander’s Millennium made moves on recently. Using TipRanks’ database to find out what the analyst community has to say, we learned that each ticker boasts a “Strong Buy” consensus rating from the analyst community and massive upside potential.
Kezar Life Sciences (KZR)
First up is oncology and immunology bioscience firm Kezar. This company is working on new treatments for autoimmune diseases and cancers, basing its research on protein activities – specifically, protein secretion and protein degradation. Kezar has a pipeline featuring several late-stage clinical trials of first-in-class small molecule drug candidates.
The two drug candidates are KZR-261, on the oncology track, and KZR-616 on the autoimmune track. The company’s most recent action and updates have come from that latter track. KZR-616 has been undergoing Phase 2 trials in the treatment of lupus nephritis (LN) and in dermatomyositis and polymyositis (DM/PM).
Kezar released data in early May that was disappointing on the DM/PM track. In topline data, the company’s…