This Healthcare Fund Just Had A Huge Q3: Here’s How

Page 2 of 2

Next up is Agios Pharmaceuticals Inc (NASDAQ:AGIO), which ranked as Opaleye’s 14th-most valuable holding on June 30, with a value of $3.56 million. Agios used a September surge to return 25% during the quarter, but has drifted down slightly in Q4. Agios reported its financial results for the third quarter today, so let’s pore over its numbers to see how it fared during the quarter. Revenue came in at $8.99 million, which represented a 64% increase from the same quarter of the company’s previous fiscal year. In terms of its bottom-line results, they fared worse than a year earlier, with Agios Pharmaceuticals Inc (NASDAQ:AGIO) reporting an EPS loss of $1.63, compared to a loss of $1.07 a year earlier.

According to Insider Monkey’s hedge fund database, Balyasny Asset Management, managed by Dmitry Balyasny, holds the biggest position in Agios Pharmaceuticals Inc (NASDAQ:AGIO). Balyasny Asset Management has a $13.6 million position in the stock. The second most bullish fund manager is Baker Bros. Advisors, managed by Julian Baker and Felix Baker, which holds an $8.7 million position. Some other hedge funds and institutional investors that are bullish include Eli Casdin’s Casdin Capital and Israel Englander’s Millennium Management.

Follow Agios Pharmaceuticals Inc. (NASDAQ:AGIO)

Lastly is Horizon Pharma PLC (NASDAQ:HZNP), which is a popular stock among the healthcare funds in our database. Overall,  27 of the hedge funds tracked by Insider Monkey held long positions in this stock, though this was a decline of 23% from one quarter earlier. James E. Flynn’s Deerfield Management had the most valuable position in Horizon Pharma Inc (NASDAQ:HZNP), worth close to $226.3 million, accounting for 8.9% of its total 13F portfolio. Coming in second was Broadfin Capital, led by Kevin Kotler, holding a $113 million position; 11% of its 13F portfolio was allocated to the stock. Remaining peers that held long positions encompassed Mark Kingdon’s Kingdon Capital, Rob Citrone’s Discovery Capital Management, and Carl Goldsmith and Scott Klein’s Beach Point Capital Management.

Opaleye’s position in the stock amounted to 200,000 shares on June 30, and represented a new position opened during the second quarter. Horizon Pharma PLC (NASDAQ:HZNP) shares gained 7.7% during the third quarter but slid in October after the company lowered its adjusted EBITDA guidance and non-GAAP net sales for its full fiscal year. The company is now calling for adjusted EBITDA of $450 million to $460 million and non-GAAP net sales at the low-end of its previous guidance of $1.025 billion to $1.050 billion.

Follow Horizon Therapeutics Public Ltd Co (NASDAQ:HZNP)

Disclosure: None

Page 2 of 2