Palo Alto Investors’s Bets on ABIOMED, Inc. (ABMD), United Therapeutics Corporation (UTHR) and Other Stocks Lift Its Q3 Returns

In BioMarin Pharmaceutical Inc. (NASDAQ:BMRN), Palo Alto Investorsboosted its stake by 29% over the quarter to 1.74 million shares valued at $135.17 million at the end of June. In the following three months, the fund saw the stock gain 18.9%. The number of funds from our database that were bullish on BioMarin Pharmaceutical inched down by two to 42 during the second quarter. More specifically, Baker Bros. Advisors was the largest shareholder of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN), with a stake worth $373.9 millions reported as of the end of June. Citadel Investment Group, OrbiMed Advisors, and Alyeska Investment Group also held valuable positions in the company.

Palo Alto Investors increased its stake in Clovis Oncology Inc (NASDAQ:CLVS) by 9% during the second quarter, ending the period with 3.80 million shares worth $52.19 million. The stock surged by 162.8% during the third quarter, lifting the returns of 21 funds from our database that held shares at the end of June. Trailing Palo Alto Investors, which held the largest stake, was Redmile Group, which amassed a stake valued at $42.5 million. Consonance Capital Management, Healthcor Management LP, and Point State Capital also held valuable positions in the company.

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