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gfp927z

10/21/19 10:38 PM

#15051 RE: ombowstring #15050

Ombow, For some additional biotech ideas, the Baker Bros' holdings are a great place to look. I remember these guys from my bio days, and if they own a stock that you're interested in, you're probably on the right track (they didn't own Cortex, lol) -


>>> Baker Brothers Makes $730 Million in One Day on Its Biotech Bet

Bloomberg

By Cristin Flanagan

October 21, 2019


https://www.bloomberg.com/news/articles/2019-10-21/baker-brothers-biotech-bet-makes-730-million-in-overnight-bump?srnd=premium


As Seattle Genetics Inc. rallies on a successful breast cancer study Monday, the biotech’s largest holder, Baker Bros. Advisors LP, stands to gain nearly $730 million on the day from its stake.

The investment firm founded by Felix and Julian Baker made a big bet in the company, their biggest in fact, with a 29% stake, as of June 30, according to data compiled by Bloomberg. That stake is worth roughly $5 billion today after tucatinib -- an experimental therapy Seattle Genetics acquired for more than $400 million last year -- surprised investors by slowing the spread of cancer and extending patients’ lives. Even more surprisingly, it had an effect on patients whose cancer had spread to their brains.

Baker Bros. has been invested in the company for over 15 years, and Felix Baker is a lead director for the biotech. Today Seattle Genetics makes up over 28% of Baker Bros.’s $15.5 billion in assets.

The stock rose as much as 17% to a record high of $101.95 intraday. Twelve analysts that follow the company rate it the equivalent of a buy, five rate it a hold and one rates it a sell. With an average price target of $87, some analyst target raises are likely in the near future.

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