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3 Healthcare Stocks Making Big Moves Today, Not All Of Them Good Ones

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Three healthcare stocks have been very active during both the pre-market and morning trading sessions today. Raptor Pharmaceutical Corp. (NASDAQ:RPTP) has seen its stock slide by more than 35% today, whereas both Aquinox Pharmaceuticals Inc (NASDAQ:AQXP) and Collegium Pharmaceutical Inc (NASDAQ:COLL) are being pushed to higher levels. In the following article we will take a look at each stock and discuss what stands behind these shifts and how hedge funds feel about their prospects.

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But first, let’s make you familiar with what Insider Monkey does. We track hedge funds and prominent investors because our research has shown that historically their stock picks delivered superior risk-adjusted returns. This is especially true in the small-cap space. The 50 most popular large-cap stocks among hedge funds had a monthly alpha of about six basis points per month between 1999 and 2012; however the 15 most popular small-cap stocks delivered a monthly alpha of 80 basis points during the same period. This means investors would have generated ten percentage points of alpha per year simply by imitating hedge funds’ top 15 small-cap ideas. We have been tracking the performance of these stocks since the end of August 2012 in real time and these stocks beat the market by over 60 percentage points (118% return vs. the S&P 500’s 57.6% gain) over the last 36 months (see the details here).

Let’s start by discussing Raptor Pharmaceutical Corp. (NASDAQ:RPTP), which announced that its Phase 2b CyNCh study did not meet its primary endpoint of improving nonalcoholic steatohepatitis (NASH) in children. This study was testing Raptor’s drug in children with a kind of liver disease that is characterized by fat in the liver. Following the failed mid-stage study, Raptor Pharmaceutical does not plan to continue the advancement of this experimental liver drug. The shares of Raptor Pharmaceutical Corp. (NASDAQ:RPTP) were up by 14% year-to-date through Friday’s close. Ultimately, the company plans to maximize the reach of PROCYSBI, which represents its sole commercial product, and also further the development of RP103 in Huntington’s and mitochondrial diseases. It seems that Kevin Kotler’s Broadfin Capital made the wrong move by initiating a 1.32 million share-position in Raptor during the second quarter, a rare misstep for the top-performing fund.

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