5 Stocks to Buy According to Neil Shahrestani’s Ikarian Capital

1. TRACON Pharmaceuticals, Inc. (NASDAQ: TCON)

Shahrestani’s Stake Value: $22,360,000
Percentage of Neil Shahrestani’s 13F Portfolio: 0.75%
Number of Hedge Fund Holders: 6

TRACON Pharmaceuticals, Inc. (NASDAQ: TCON) is a clinical-stage biopharmaceutical company. It was incorporated in 2004, and it tops the list of 10 best stocks to buy according to Neil Shahrestani’s Ikarian Capital. TRACON currently has $72.86 million market capitalization and was able to deliver a 127.27% return in the past 12 months.

On July 21, TRACON Pharmaceuticals, Inc. (NASDAQ: TCON) announced that it launched an underwritten offering in which it publicly offered 3.93 million common shares at $3.82 per share. In addition, the underwriters will be granted the option of buying an additional 589,005 shares. The net revenues from the public offering will be used to fund the company’s continuing clinical development of envafolimab, and for working capital and other business reasons. On June 4, Alliance Global Partners analyst Matt Cross initiated a coverage on TRACON Pharmaceuticals, Inc. (NASDAQ: TCON) with a “Buy” rating and a price target of $13.

Ikarian Capital is a leading shareholder in TRACON Pharmaceuticals, Inc. (NASDAQ: TCON), holds 2.72 million shares worth $64.74 million, representing 24.03% of their portfolio.

You can also take a peek at 10 Best Stocks to Buy According to Brazilian Billionaire Jorge Paulo Lemann and 12 Best Bear Market Stocks to Buy Now 

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