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Winners Circle 2014 Top Hedge Fund Managers: Healthcare Funds, Nine Of Top Ten Spots
- Healthcare-focused equity hedge fund managers secured nine of the top ten spots in our 4Q/2014 update of "Winners Circle Top Performing Hedge Fund Managers."
- Almost than half of the winnings for top-ranked Deerfield came from five core biotech company holdings, out of 110 total positions.
- ABIOMED was the most bullish holding from among the top three ranked hedge funds, with second ranked Palo Alto Investors putting ten percent of its 13-F Assets in the stock.
- Other fund managers from our universe of hand-picked top 330+ Wall St. fund managers have also been bullish on ABIOMED, adding to their positions in each of last three quarters.
- Stanley Druckenmiller's Duquesne Family Office was the only non-healthcare fund that made it into the Top Ten Winners Circle list for 4Q/2014.
Guru Fund Managers Would Buy LinkedIn Shares Here. Should You?
- LinkedIn shares have fallen aggressively, dropping 44% since the peak last year, far in excess of its peer Facebook's 22% drop, and more in line with Twitter's 56% drop.
- While Facebook takes the cake in terms of valuation, LinkedIn shares are also attractive at current levels, especially given its position as the leading social networking site for professionals.
- Based on an analysis of leading fund manager buying and selling activity over multiple quarters, and its fundamentals, we believe they would accumulate Facebook shares at current prices.
Endocyte Is A Steal At Current Prices, Appropriate For The Risk-Tolerant Investor
- Endocyte and Merck shares traded down today after Endocyte announced that the independent DSMB recommended that the Phase 3 PROCEED trial of Vynfinit in platinum-resistant ovarian cancer (PROC) be stopped.
- Endocyte shares are trading at near cash levels, discounting most possible negatives, and assigning no value to its pipeline or technology.
- Leading fund managers, like many experts, added shares in the last few quarters, but their buying was tepid vs. other similar sized market-cap biotech's with mid- & late-stage product candidates.
- We expect shares to rebound in the short-term to the $9-$10 resistance levels, especially on no more negative news, like they did after falling on last October's negative DSMB announcement.
Plug Power's Secondary A Net Positive, But There Are Other Issues To Lose Sleep Over
- Plug Power shareholders feel betrayed by management as it announced a third offering this year, particularly due to its timing right after positive announcements from the company sent shares higher.
- The offering is not unexpected, and can be viewed as a net positive. With $150 million in cash, Plug Power will not be making more dilutive offerings anytime soon.
- Does the offering, however, signal that management believes cash flow positive is even further away than in FY 2015, as currently projected by analysts?
- Long-term potential notwithstanding, this highlights our concerns about valuation, negative gross margins, and falling product revenue, among others. Also, Guru fund managers are bearish on Plug Power.
- We would be buyers on any dip below $4, and technically the stock looks like it is going to break down below at least $6 very soon.
Can Endo's CEO Do An Encore Of His Playbook At Valeant? Guru Funds Think So.
- Shares of Endo International are down huge in this correction, paralleling moves in many biotech stocks, but unlike the smaller corrections in many of its generic and specialty pharmaceutical peers.
- Endo's fundamentals do not support its current share price, fueling bearish concerns that the stock is over-valued.
- Bulls are speculating that Endo's new CEO, Rajiv De Silva, will do an encore of his playbook at Valeant, during which shares were up six-fold in three-plus years.
- Guru funds have been aggressively buying Endo shares in the last three quarters since the new CEO took over, including in the latest quarter at prices averaging in high-$50s.
- Endo shares are trading near levels at which these leading funds considered them an attractive buy, and can be bought on dips to and below the 200-day moving average.
Is There Any Power Left In Plug Power? Guru Funds Don't Think So.
- Plug Power reported a string of positive news events this morning. The stock responded with a strong gap-up, only to close down about 5%.
- Plug Power shares are up about 50-fold in the past year. While shares were attractive at $2 when we last wrote about it in January, they are over-valued now.
- Leading funds sold about 50% of their position in 4Q '13, and hold only ~1.0% of outstanding shares. That in no uncertain terms conveys their bearishness on the outlook for Plug Power.
- Do not short as there is high risk of loss. However, current shareholders should lighten up. And potential new shareholders can wait for a dip to below $4.
Could Guru Fund Managers Be Right On Apple Again?
- Apple shares have gone nowhere for two years. Question for newer investors is whether this is consolidation before a rise up to highs, or if Apple's heyday days are over.
- Apple's discount valuation and growth potential related to new product launches, especially in wearable tech, make it an attractive play, despite concerns about its waning competitive edge vs. androids.
- Gurus and other leading fund managers are buying Apple again en-masse in the last two quarters, signaling their bullishness about appreciation from current price levels.
- Leading fund managers correctly predicted Apple's fall from the $700 level two-years ago. Could they be right again? We think so, and believe upside to be $700 in 12-18 mos.
Is Imperva The Worst Name In Cyber-Security Or Has It Fallen A Bit Too Much?
- Yesterday Imperva reporting disappointing preliminary results for 4Q'13. Investors rushed out of it, dropping shares 43% yesterday, and about 60% below highs a month ago.
- The cyber-security industry is experiencing long-term secular demand growth due to IP and data security threats from governments, criminals and hacktivists. Corporate spending will pick-up to match this threat.
- While none of the cyber-security plays will appeal to value investors, growth and momentum investors may find opportunity here, particularly in Imperva and FireEye.
- Shares have fallen a bit too much too quick, particularly on Imperva, and yesterday's action looks more like a wash-out, setting up for at least a quick technical rebound.
Buy Actavis - An Attractive Value And Growth Play That Is Also A Top Guru Fund Pick
- Biotech investing is like a Casino. Generics offer a less manic alternative, with Actavis the poster child, attractive from both a value and growth perspective.
- Actavis is also a top large-cap pick among leading funds that heavily accumulated shares in the latest 4Q/2013, and added to their holdings in each of the past four quarters.
- Given that the stock is in a downtrend, a scaling-in option, buying the stock in fourths for every $10 drop towards the 200-day moving average is a good option.
Join Gurus And Buy Value And Growth Play Micron At Cheap Prices
- Another quarter, another strong beat, and Micron shares are down once again. Is this time again to "buy the dip" or are we at the top of the cycle?
- Micron is a phenomenal stock, a value and growth buy, industry leader, and available once again thanks to the market correction at insanely cheap prices.
- Guru fund managers more than quintupled their position in Micron in the last five quarters, and it was a "Top 5 Large-Cap Consensus Pick" in Q2'13 and Q3'13.
- Recommend scaling into the position, buying a third to a fourth here, and adding more as it goes down to the 200-day MA near $19.
Will The Third Time Be A Charm For MannKind? Leading Fund Managers Definitely Think So
- Positive recommendation on Tuesday from FDA's Endocrinologic and Metabolic Advisory Committee means almost certain approval of Afrezza by the PDUFA date of April 15th.
- Leading fund managers have been aggressively buying Mannkind, doubling their position in the last few quarters, with recent purchases near current prices, and at almost 200% above year-ago levels.
- Given that leading fund managers saw value near current prices, even before the FDA Committee's recommendation, the risk-to-reward is even more favorable now.
- Biotech correction gives investors a unique opportunity to still buy Mannkind at attractive levels, before prices most likely go up in the days leading to the PDUFA deadline.
Guru Fund Managers Are Heavily Accumulating BlackBerry Shares. Should You?
- BlackBerry reported a mixed quarter last Friday, beating earnings estimates and severely missing revenue estimates. Shares have fallen off, giving back 50% of recent gains, and trading near all-time lows.
- Guru funds aggressively bought BlackBerry in latest quarter, just like they did in 3Q/2012 prior to a 70% rise in shares. We have observed similar predictive power in other stocks.
- Averaging-down strategy appropriate, given low downside and potentially huge upside. Initial entry here for a one-third position, followed by adding one-thirds more if it drops below $7 and $6.
Take Advantage Of Legislative Grandstanding By Buying Gilead At A Discount
- Legislative grandstanding gives healthcare investors another opportunity to accumulate Gilead shares at a discount price.
- Gilead is priced attractively compared to its peer mega-cap pharmaceutical stocks, especially considering its high growth rate. We calculate a potential upside of at least 60% under current market conditions.
- Gilead is also a favorite play among our hand-picked list of 330+ of Wall Street's leading fund managers, including 78 guru fund managers that accumulated shares in the latest quarter.
- A rationale strategy would be to buy some shares here, and average down in increments if it falls towards the 200-day moving average in the high-$60's.
Leading Fund Managers Are Still Heavily Accumulating Facebook Shares... Should You?
- Despite Facebook's impressive rally, shares are still trading at reasonable valuations, relative to projected growth rates.
- Leading fund managers have accumulated Facebook shares in six out of the seven quarters, and they hold far fewer shares than in comparable mega-cap technology peers.
- A pullback in shares, especially to the mid-$50's, will offer a compelling risk-to-reward opportunity to accumulate shares.
- Gilead Is Not Done; There Is Potentially 50% More Upside This Year
- Rexahn Pharmaceutical Shares Are Still A Buy Despite Recent Volatility
- FireEye's Game-Changing Acquisition Of Mandiant Makes It An Ideal Long-Term Buy
- Plug Power Shares Have Great Long-Term Potential, But Are Vulnerable In The Short Term
- Twitter's Bubble Has Burst. Get Ready To Short The Double-Top
- DryShips Shares Are A Better Value Than Its Drybulk Peers
- Don't Buy Ariad Pharmaceuticals Shares At These Levels
- Immunocellular Shares Are Set For A Rebound
- Patient, Provider, Insurer, And Government Interests Aligned For 100% Upside On Rockwell Medical
- Organovo: Love The Technology, Like The Company, But Wait To Buy The Stock
- Strengthen Your Portfolio With U.S. Silica: Potential Double In 12-18 Months
- Predicting Biotech Stock Moves Based On Consensus Picks By Legendary Fund Managers
- A Perfect Trifecta For Thompson Creek
- Oxford Resource Partners Offers Multi-Bagger Potential Despite Its Problems
- Cerus - An Attractive Long-Term Buy Based On Positive Pipeline Developments
- Battle Of The Serial Disrupters: The Long Case For Netflix
- Small-Cap Picks From Last Week's 13D/G 5% Ownership Fund Manager Filings
- Allergan And Other Top Buy-And-Sell Picks By Healthcare Sector-Focused Funds