Stock Tips By Derek
|Posted on November 14, 2013 at 10:25 AM|
On Nov 1st Seth Klarman filed his Q3 investments portfolio with the SEC. One of the new changes listed in the Baupost Groups' holdings was a significant increase in shares of Idenix (IDIX). You can see the full listing here. While there is not a lot to like about the financial position of this healthcare firm, they do have a promising pipeline and are entering clinical trials with a Hep C drug.
When I was at MIT I heard Seth Klarman speak about investing, and one of the points he emphasized was that he always looked to find distressed valuations. Even though IDIX jumped 40% when they reported news about the clinical trials on Nov 1st, my assumption is that this stock is still valued at "distressed" levels.
I'm a buyer of IDIX at $4.54.
UPDATE August 2014
Merck acquires Idenix for $24.50/share. Position closed out.
Categories: stock evaluation