Stephen Mandel’s Lone Pine Capital acquired 8.35 million shares of Horizon Pharma PLC (NASDAQ:HZNP) on July 17, 2015, according to a recent 13G filing made by the hedge fund. The Tiger Cub now owns 5.4% of the common shares of the biopharmaceutical company.
Stephen Mandel is one of the many Tiger Cubs with their own firms now, having worked for Julian Robertson until 1997, when he left to establish Lone Pine Capital. According to Forbes’ Real-Time net worth estimator, Mr. Mandel has a net worth of $2.3 billion as of July 29, ranking him 284 in the list of billionaires within the United States. He is known for his excellent stock picking skills and follows a “bottom up” approach to selecting investments. At the end of the first quarter, Lone Pine Capital reported a public equity portfolio worth $26.42 billion, with the holdings of the investment manager being primarily in the information technology sector, followed by the consumer discretionary and finance sectors. His top ten stock holdings account for 43.32% of his overall portfolio value. Priceline Group Inc (NASDAQ:PCLN) was the top equity investment of Lone Pine Capital at the end of the first quarter, as it held 1.33 million shares worth $1.55 billion of the online travel services provider.
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Horizon Pharma PLC (NASDAQ:HZNP) is a specialty biopharmaceutical company that targets unmet medical requirements, with its portfolio including medications for inflammation, arthritis, and orphan diseases. The medical company was formed when Horizon Pharma acquired Vidara Therapeutics International plc in September 2014, with the resultant company being called Horizon Pharma PLC (NASDAQ:HZNP). Shares of Horizon are up by just under 200% year-to-date. The shares of Horizon Pharma closed 6.06% higher on July 28 after the company announced a partnership with Fox Chase Cancer Center, for the purposes of treating cancer. Jeffrey Sherman, Chief Medical Officer and executive vice-president of research and development at Horizon said, “Through this research, our goal is to gain a better understanding of the potential for ACTIMMUNE along with PD-1 and PD-L1 inhibitors in different patient populations and disease areas.”
