Healthcare sector: Buy Theravance Inc. (THRX) and Alere Inc. (ALR). Baupost sold $390 million of its prior quarter $1.01 billion position in the healthcare sector. It sold out of its prior quarter $45 million position in biotech Regeneron Pharmaceuticals (REGN). The position was opened in the mid-$20s in the summer of 2010, and it probably sold out in the $40 range last quarter, so this was just profit-taking. Furthermore, Baupost added to its prior quarter positions in biotech PDL Biopharma Inc. (PDLI) and Aveo Pharmaceuticals (AVEO); both positions were opened at the end of 2010, and are indicative of Baupost’s conviction in its buy decision. Furthermore, Baupost holds a large $315 million position in biotech Theravance Inc. (THRX) that was opened in the mid-teens in early 2008, and a $120 million position in Alere Inc. (ALR), a developer of diagnostic products in the areas of infectious disease, cardiology, oncology, drug abuse and women’s health, that was opened in the $30 range in the summer of 2010. THRX traded in the high-$20s last quarter and ALR traded in the $40 range last quarter, so Baupost continuing to hold these positions without any profit-taking is indicative of Baupost’s conviction in its hold decision. Baupost holds a 17.4% of the outstanding shares of THRX and it is a large conviction holding for it. Furthermore, ALR is projected to exhibit strong double-digit revenue and earnings growth going forward and trades at a very attractive forward 12 P/E, near the low-to-mid-end of its historic P/E range.
Recent THRX News
- Form 15-12G - Securities registration termination [Section 12(g)] • Edgar (US Regulatory) • 02/26/2024 02:00:55 PM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 02/16/2024 05:15:06 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/14/2024 09:00:26 PM
- Form S-8 POS - Securities to be offered to employees in employee benefit plans, post-effective amendments • Edgar (US Regulatory) • 02/14/2024 07:26:12 PM
- Form POS AM - Post-Effective amendments for registration statement • Edgar (US Regulatory) • 02/14/2024 07:22:42 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/14/2024 03:44:05 PM
- Form SC TO-T/A - Tender offer statement by Third Party: [Amend] • Edgar (US Regulatory) • 02/14/2024 03:35:19 PM
- Theseus Pharmaceuticals Announces Closing of Tender Offer • PR Newswire (US) • 02/14/2024 01:30:00 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/13/2024 05:36:57 PM
- Form SC 14D9/A - Solicitation, recommendation statements: [Amend] • Edgar (US Regulatory) • 02/07/2024 10:21:30 PM
- Form SC TO-T/A - Tender offer statement by Third Party: [Amend] • Edgar (US Regulatory) • 02/07/2024 10:15:51 PM
- Form SC 14D9/A - Solicitation, recommendation statements: [Amend] • Edgar (US Regulatory) • 01/30/2024 01:52:31 PM
- Form SC TO-T/A - Tender offer statement by Third Party: [Amend] • Edgar (US Regulatory) • 01/30/2024 01:23:43 PM
- Concentra Announces Calculation of Additional Price Per Share and Extension of Expiration Date for Tender Offer for Theseus Pharmaceuticals • Business Wire • 01/30/2024 01:00:00 PM
- Form SC 14D9 - Solicitation, recommendation statements • Edgar (US Regulatory) • 01/10/2024 02:47:20 PM
- Form SC TO-T - Tender offer statement by Third Party • Edgar (US Regulatory) • 01/10/2024 01:51:27 PM
- Form SC14D9C - Written communication relating to third party tender offer • Edgar (US Regulatory) • 12/22/2023 11:52:56 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/22/2023 11:36:08 AM
- Theseus Pharmaceuticals Enters into Agreement to Be Acquired by Concentra Biosciences for between $3.90 and $4.05 in Cash per Share Plus a Contingent Value Right • PR Newswire (US) • 12/22/2023 11:30:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/04/2023 11:30:30 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/27/2023 11:37:46 AM
- Theseus Pharmaceuticals Confirms Receipt of Unsolicited Expression of Interest from Foresite Capital, LLC and OrbiMed Advisors LLC and Unsolicited Proposal from Concentra Biosciences LLC • PR Newswire (US) • 11/27/2023 11:30:00 AM
- Form SC 13D/A - General statement of acquisition of beneficial ownership: [Amend] • Edgar (US Regulatory) • 11/24/2023 09:23:24 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/17/2023 09:01:52 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM