Orbimed Advisors, led by Samuel Isaly, recently published its 13F filing with the U.S. Securities and Exchange Commission. For the second quarter of 2014, the hedge fund revealed 132 equity positions, worth $8.5 billion. Orbimed Advisors is a large health care fund investing in companies at various stages from venture capital to the public markets. The largest holdings of the fund are represented by Intercept Pharmaceuticals Inc. (NASDAQ:ICPT), Bristol-Myers Squibb Co (NYSE:BMY), and Biogen Idec Inc (NASDAQ:BIIB). In this article, we will discuss each of these three largest positions for the second quarter.
Intercept Pharmaceuticals Inc. (NASDAQ:ICPT) is on the top position, where Orbimed Advisors currently owns 1.49 million shares. In its 13F, the fund reported ownership of 1.66 million shares of the company, with a value of more than $390 million. Intercept Pharmaceuticals Inc. (NASDAQ:ICPT) is a clinical stage biopharmaceutical company focused on the development and commercialization of novel bile acid therapeutics to treat chronic liver and intestinal diseases. For the second quarter of 2014, the company reported a net income of $33.5 million for the second quarter of 2014, compared to a net loss of $13.5 million for the second quarter of 2013.
Other hedge fund holding stakes in the company include Viking Global, managed by Andreas Halvorsen, which owns 208,077 shares of Intercept Pharmaceuticals Inc. (NASDAQ:ICPT), and Sectoral Asset Management, led by Jerome Pfund and Michael Sjostrom, which holds 73,993 shares of the company.
In Bristol-Myers Squibb Co (NYSE:BMY), Orbimed Advisors revealed holding 7.19 million shares, worth nearly $349 million. The stake represents an increase from 5.97 million shares the fund reported previously. Having a market cap of $83.5 billion, Bristol-Myers Squibb Co (NYSE:BMY) is a New-York-headquarted global biopharmaceutical company.
Last month, Bristol-Myers Squibb Co (NYSE:BMY) released its financial results for the second quarter of 2014. The company reported non-GAAP net earnings attributable to the company of $798 million, or $0.48 per share, compared to $730 million, or $0.44 per share, for the same period a year ago.
Other significant shareholders of the company include Adage Capital Management, managed by Phill Gross and Robert Atchinson, which reported holding 4.95 million shares, and Donald Chiboucis’ Columbus Circle Investors, which owns 2.89 million shares.
Biogen Idec Inc (NASDAQ:BIIB) is represented as the third largest holding, in which Orbimed Advisors disclosed owning 1.08 million shares, slightly up from 1.06 million shares the fund held earlier. The value of the position amounts to around $342 million. Biogen Idec Inc (NASDAQ:BIIB) is an independent biotechnology company engaged in development of innovative therapies for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders. Its market cap is $81.2 billion. For full-year 2014, Biogen Idec Inc (NASDAQ:BIIB) updated its financial guidance. It expects revenue growth to be approximately between 38% to 41%, and GAAP diluted EPS is expected to be between $11.26 and $11.46.
Aside from Orbimed Advisors, Columbus Circle Investors owns 1.35 million shares, and Cliff Asness’ AQR Capital Management holds 791,724 shares of the company.