Incyte Corporation (INCY), Seattle Genetics, Inc. (SGEN) & Two More: Top Healthcare Hedge Fund Loves These Stocks

In ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD), a biopharmaceutical company that works on the development and production of therapeutics for treating central nervous system disorders, Baker Bros. Advisors raised its stake by 1% to 24.52 million shares, which were worth $795.81 million, comprising 8.34% of its equity portfolio’s value. The stock delivered a negative return of 2% in the third quarter, being one of the few underperforming equities held by the fund.

Heading into the third quarter of 2016, a total of 25 of the hedge funds tracked by Insider Monkey held long positions in this stock, a 19% decline from the first quarter of 2016. One of the most bullish investors in the company at the end of June was Palo Alto Investors, which amassed a stake valued at $46.7 million. Point72 Asset Management, Senator Investment Group, and Sabby Capital were also long the stock.

In the end, we are going to examine Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN), in which Baker Bros. Advisors slightly boosted its stake as well. The fund added 696 shares during Q2, hence holding a position that counted 6.54 million shares at the end of June, and which was valued at almost $764 million. The fund’s investment was a good move, since the company advanced in value by 5% in the following three months.

At Q2’s end, a total of 46 of the hedge funds in our system were long Alexion, up by 24% from the first quarter of 2016. One of the largest stakes in Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) was reported by OrbiMed Advisors, managed by Samuel Isaly, which held a $348.1 million position; the fund had 3.6% of its 13F portfolio invested in the stock. Remaining professional money managers that were bullish comprised Ken Griffin’s Citadel Investment Group, Anand Parekh’s Alyeska Investment Group, and Israel Englander’s Millennium Management.

Disclosure: None