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Palo Alto’s Top Picks for This Year Following Impressive 2015 Returns

#2 Anacor Pharmaceuticals Inc (NASDAQ:ANAC)

– Shares Owned by Palo Alto (as of December 31): 2.19 Million

– Value of Holding (as of December 31): $247.09 Million

The fund cut its holding in Anacor Pharmaceuticals Inc (NASDAQ:ANAC) by 15% during the fourth quarter and shares are down by 43% so far this year amid the company missing both the top- and bottom-line estimates for the last quarter. However, Anacor Pharmaceuticals’ stock surged by more than 250% in 2015 on the back of the possibility of its eczema drug crisaborole receiving regulatory approval. Julian Baker and Felix Baker‘s Baker Bros. Advisors is the largest stockholder of  Anacor Pharmaceuticals Inc (NASDAQ:ANAC) within our database holding about 4.20 million shares valued at $474.31 million.

 

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#1 ABIOMED, Inc. (NASDAQ:ABMD)

– Shares Owned by Palo Alto (as of December 31): 2.19 Million

– Value of Holding (as of December 31): $247.09 Million

During the fourth quarter, Palo Alto inched up its exposure to ABIOMED by 2%. Over the last 52 weeks, shares of the provider of temporary percutaneous mechanical circulatory support devices have climbed by more than 31%. Revenue for the company’s third fiscal quarter, ended December 31, came in 38% higher on the year and the guidance for the fiscal 2016 has also been raised to $326 million from a range of $305 million to $315 million. Another shareholder of the company is Drew Cupps’ Cupps Capital Management, which holds about 277,800 shares of ABIOMED, Inc. (NASDAQ:ABMD), according to its latest 13F filing.

Disclosure: None

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