Broadwood Capital Reduces Futher Questcor Pharmaceuticals Inc (QCOR)

In its filing with the Securities and Exchange Commission, Neal C. Bradsher’s Broadwood Capital has disclosed further reducing its stake in Questcor Pharmaceuticals Inc (NASDAQ:QCOR). The filing showed that the fund sold 205,000 shares in one deal at a price of $83.96 per share. Currently, the fund owns around 2.05 million shares.

Headquartered in Anaheim, California, Questcor Pharmaceuticals Inc (NASDAQ:QCOR) is a biotechnology company focused on the treatment of patients with serious, difficult-to-treat autoimmune and inflammatory disorders. The firm primarily offers H.P.Acthar Gel, a treatment for acute exacerbations of multiple sclerosis in adults. In February 2014, Broadwood Capital sold 50,000 shares of Questcor Pharmaceuticals Inc (NASDAQ:QCOR). The fund also sold 20,000 shares January.

Recently, Mallinckrodt PLC (NYSE:MNK) agreed to acquire Questcor Pharmaceuticals Inc (NASDAQ:QCOR) in a transaction valued at about $5.6 billion. The deal, subject to customary closing conditions, is expected to be completed in the third calendar quarter of 2014, according to a statement.

In its latest 13F, Broadwood Capital revealed holding around 2.80 million shares of Questcor Pharmaceuticals Inc (NASDAQ:QCOR). James E. Flynn’s Deerfield Management held an $82 million stake, which contains 1.51 million shares. Another investor, Adage Capital Management, managed by Phill Gross and Robert Atchinson, disclosed holding 1.33 million shares in its latest 13F.

Broadwood Capital is a New York City-based fund with an equity portfolio worth around $497.3 million. At the beginning of 2014, the fund disclosed raising its stake in BioTime Inc. (NYSEMKT:BTX) to 9.52 million shares, from some 9.02 million held previously.

Among the largest stakes revealed by Broadwood in its latest 13F, is STAAR Surgical Company (NASDAQ:STAA), in which the fund holds a $111.5 million stake, which amasses 6.89 million shares. Another one is Monster Beverage Corp (NASDAQ:MNST), in which Broadwood owns around 1.60 million shares, worth $108.4 million.

Disclosure: none

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