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Billionaire Seth Klarman’s Biotech Stock Picks

Next in line is Keryx Biopharmaceuticals (NASDAQ:KERX), in which Baupost disclosed holding 18.30 million shares valued at $258.95 million. The stock inched up by 2% during 2014 and Mr. Klarman after initiating a stake with 6.31 million shares during the first quarter has been raising his exposure to the stock throughout the next six months. Keryx Biopharmaceuticals (NASDAQ:KERX) is focused on developing therapies for patients with renal diseases. Earlier this year, three analysts lowered their price targets on the stock, although the consensus rating is still ‘Buy’. Stifel Nicolaus reduced its price target to $19.00 from $22.00, while Roth Capital and Mizuho decreased their price targets to $27.00 and $25.00 respectively; all three analysts have ‘Buy’ ratings on the stock. Another investor bullish on Keryx Biopharmaceuticals (NASDAQ:KERX) is healthcare hedge fund Deerfield Management, led by James E. Flynn, which owns 1.18 million shares as of the end of 2014.

Forward Pharma A/S (NASDAQ:FWP) represents a new position in Baupost Group’s equity portfolio as the fund revealed an $111.80 million position that contains 5.37 million shares. The company went public in October and its stock appreciated by 33% since the IPO. Forward Pharma A/S (NASDAQ:FWP)  is currently engaged in the development of a drug used for the treatment of multiple sclerosis and other immune disorders. The company is currently working on Phase 3 clinical trial using FP187, a proprietary formulation of dimethyl fumarate. Another hedge fund that disclosed a stake as Forward Pharma went public is Peter Kolchinsky’s RA Capital Management, which owns 970,600 shares as of the end of 2014.

Disclosure: None

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