Jeffrey Ray’s Great Point Partners Trims Its Stake In Alcobra Ltd (ADHD)

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Jay and Kroin’s second largest holding in their fund’s portfolio is represented by Hyperion Therapeutics Inc (NASDAQ:HPTX)  and it received a 25% bump during the fourth quarter to about 998,100 shares valued at $23.95 million. The $959.37 million bio-pharmaceutical company has recently been acquired by Horizon Pharma PLC (NASDAQ:HZNP) for approximately $1.1 billion. Hyperion Therapeutics Inc (NASDAQ:HPTX)’s portfolio of orphan drugs, RAVICTI and BUPHENYL is expected to add $100 million to Horizon’s adjusted EBITDA in 2016, according to Horizon’s CEO Timothy Walbert. Among the funds that we track, 18 investors had an aggregate investment of $94.09 million in Hyperion Therapeutics Inc (NASDAQ:HPTX) at the end of the fourth quarter as compared to 14 funds with $66.87 million in the previous quarter. Michael Blutt‘s Consonance Capital Management is the largest shareholder among them.

Alimera Sciences Inc (NASDAQ:ALIM) was another one of Great Point’s top picks with 2.62 million shares valued at $14.51 million. The stock of the $219.99 million company dedicated to developing treatments for diseases of the retina is down by about 9.57% year to date. This has particularly been bad news for Deerfield Management which increased its stake in Alimera Sciences Inc (NASDAQ:ALIM) by 119% during the fourth quarter to 4.05 million shares valued at $22.41 million.

Lastly, there is Great Point’s stake in Ocera Therapeutics Inc (NASDAQ:OCRX), amounting to 1.96 million shares valued at $12.51 million. The company’s main focus is the development of treatments for acute and chronic liver diseases. Interim analysis of Ocera Therapeutics Inc (NASDAQ:OCRX)’s lead program OCR-002 in phase 2b STOP-HE study was completed earlier this month. The stock of Ocera Therapeutics Inc (NASDAQ:OCRX) is down by 38.3% year to date, which has been a disappointment for Anders Hove and Bong Koh, as their fund VHCP Management held some 703,700 shares valued at $4.48 million at the end of 2014.

Disclosure: None

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