With a general bullishness amongst the heavyweights, some big names have jumped into Acura Pharmaceuticals, Inc. (NASDAQ:ACUR) headfirst. Deerfield Management created the most valuable position in Acura Pharmaceuticals, Inc. (NASDAQ:ACUR). Sabby Capital also initiated its position during the quarter.
Let’s go over hedge fund activity in other stocks similar to Acura Pharmaceuticals, Inc. (NASDAQ:ACUR). We will take a look at Luna Innovations Incorporated (NASDAQ:LUNA), SMTC Corporation (USA) (NASDAQ:SMTX), Deswell Industries, Inc. (NASDAQ:DSWL), and Skyline Corporation (NYSE:SKY). This group of stocks’ market valuations are closest to ACUR’s market valuation.
Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
---|---|---|---|
LUNA | 4 | 772 | 1 |
SMTX | 5 | 4093 | 0 |
DSWL | 4 | 2074 | 2 |
SKY | 5 | 6416 | 1 |
As you can see these stocks had an average of 4.5 hedge funds with bullish positions and the average amount invested in these stocks was $3 million. That figure was $4 million in ACUR’s case. SMTC Corporation (USA) (NASDAQ:SMTX) is the most popular stock in this table, while Luna Innovations Incorporated (NASDAQ:LUNA) is the least popular one. Compared to these stocks Acura Pharmaceuticals, Inc. (NASDAQ:ACUR) is even less popular than LUNA. Even though smart money isn’t very fond of this stock, that doesn’t necessarily mean it is overvalued and not a good investment. Further research may even suggest it is worth buying. However, before including it in your portfolio, more research is advisable.