What You Need To Know About These 4 Hot Stocks

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Pandora Media Inc (NYSE:P) is up by 7.34% after analysts at Macquarie upgraded the internet radio company to ‘Outperform’ from ‘Neutral’ and assigned the stock a target price of $19 per share. Macquarie thinks revenue will continue growing as monetization improves and as the company launches new products such as One Day Pass. The analysts also think the market is being too pessimistic about the threat of competition from Apple and Spotify. Because of the 25% year-to-date drop in the stock, the analysts think ‘the bear/bull case [for Pandroa] is now too asymmetrical to ignore’. Our data shows the smart money was more cautious on Pandora in the second quarter. 30 funds reported stakes in the company worth $689.76 million (accounting for 21.00% of the float) at the end of June, down from 37 funds and $752.05 million respectively at the end of March.

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Horizon Pharma PLC (NASDAQ:HZNP) has inched up by 3.11% in afternoon trading as sentiment around drug stocks improves. Valeant Pharmaceuticals Intl Inc ( NYSE:VRX) shares are beginning to stabilize after its management hosted a conference call addressing its relationships with various specialty pharmacies. Valeant management said they found ‘no evidence whatsoever’ of any illegal activity. Although Horizon Pharma has no ownership in pharmacies or options to buy stakes in pharmacies like Valeant does, the two stocks have been correlated due to their similar business models. Our data shows that the hedge funds we follow were bullish on Horizon Pharma PLC (NASDAQ:HZNP) in the second quarter. A total of 43 funds reported stakes worth $1.84 billion, amounting to 34.30% of the float at the end of June, up from 43 funds with $1.23 billion in shares at the end of March. James E. Flynn‘s Deerfield Management owned 12.26 million shares at the end of June.

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Disclosure: None

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