Aegerion Pharmaceuticals, Inc. (AEGR) & The GEO Group Inc (GEO): Scopia Capital Bets On Biotech Recovery, Gets Out Of Real Estate

Scopia Capital Management has disclosed in a recent regulatory filing with the Security and Exchange Commission that it has acquired 4.2 million shares of Aegerion Pharmaceuticals, Inc. (NASDAQ:AEGR), a $900 million market cap biopharmaceutical company. The stake represents around 14.2% of the company’s outstanding shares and has a present market value of $150 million. In addition, the investor has sold 2 million shares valued at $76 million in real estate investment trust The GEO Group Inc (NYSE:GEO), decreasing its stake in the company to 0.85%.

Aegerion Pharmaceuticals, Inc. (NASDAQ:AEGR)

The move may represent a portfolio shuffle, with the investor cashing in on a recovery in the US real estate market, and putting its funds to work in a bio-pharmaceutical company that may represent an opportunity because the stock is relatively cheap. The GEO Group Inc (NYSE:GEO) pays a quarterly dividend and rose by more than 100% since September, 2008, when Scopia Capital first disclosed a stake in the REIT. In contrast Aegerion Pharmaceuticals, Inc. (NASDAQ:AEGR) stock fell 57% year-to-date on general market jitters about overvalued bio-technology companies.

In the most recent quarter, Aegerion Pharmaceuticals, Inc. (NASDAQ:AEGR) which develops therapeutics to treat lipid disorders, has reported a net loss of 33 cents per share, which was less than the analysts’ expectations of 44 cents and the year-ago loss of 66 cents. Net product sales were up 29%, reaching $36 million. The bottom-line improvement, however, has not halted the stock’s free-fall, which was trading at around $95 per share a year ago and at only $30 per share now. Recently, the Cambridge-based US company announced its intention to sell $250 million worth of convertible notes in the open market.

Other investors that own Aegerion Pharmaceuticals, Inc. (NASDAQ:AEGR) shares include Jerome Pfund’s  Sectoral Asset Management with 934,100 shares which have a current market value of $28 million, Sean Cullinan’s Point State Capital with 925,000 shares worth $27 million and Julian and Felix Baker’s Baker Bros. Advisors with 513,922 million shares valued at $15 million.

Disclosure: None

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!