Best Healthcare Stocks: Billionaire Seth Klarman’s Picks

In Innoviva Inc. (NASDAQ:INVA), Baupost Group held a $164.10 million position that contained 14.93 million shares, down by 15% over the quarter. The number of funds from our hedge fund database long Innoviva amounted to 21 at the end of September. The total value of their holdings stood at $394.75 million, versus $436.91 million held by 20 funds at the end of the previous quarter. Innoviva recently joined the S&P SmallCap 600. It replaced Rofin-Sinar Technologies Inc., which was acquired by Coherent Inc. in a deal completed in November.

Keryx Biopharmaceuticals (NASDAQ:KERX) has been another winner in Baupost’s equity portfolio this year as the stock has appreciated by 14% since the beginning of January. Baupost Group held 25.79 million shares worth $136.954 million at the end of September, being among 11 investors from our database that disclosed long positions in the company as of the end of September, down by one over the quarter. Keryx Biopharmaceuticals reported third quarter loss of $0.39 per share, missing the consensus estimate of a loss of $0.22 per share. However, its revenue for the quarter stood at $6.3 million, surpassing consensus expectation of $5.8 million.

Atara Biotherapeutics Inc (NASDAQ:ATRA) was represented in Baupost’s 13F portfolio by an $114.64 million stake containing 5.36 million shares at the end of September. Seven hedge funds we track hold about $210.53 million of Keryx Biopharmaceuticals stock as of the end of the third quarter. Keryx Biopharmaceuticals recently reported a loss of $25.4 million or $0.88 per share for the third quarter, wider than expected loss of $0.78 per share.

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