Ra Capital Management Initiates Stake in Furiex Pharmaceuticals Inc (FURX) After the Stock Jumped

Peter Kolchinsky‘s Ra Capital Management, has just disclosed initiating a 7.2% stake in Furiex Pharmaceuticals Inc (NASDAQ:FURX). The position amasses 750,000 shares and is passive by nature. The value of the holding amounts to $84.23 million, at the current price of the company’s stock.

Peter Kolchinsky

Furiex Pharmaceuticals Inc (NASDAQ:FURX) went on the radars just yesterday, when it’s stock jumped by a whooping 130%. In our newsletter back in December, we recommended to buy shares of Furiex, based on the recommendation from Michael Castor.

The significant boost gained by Furiex Pharmaceuticals Inc (NASDAQ:FURX)’s stock came amid positive results regarding the company’s two pivotal Phase III clinical trials, which evaluated the safety of eluxadoline in the cure of diarrhea-predominant irritable bowel syndrom. The results of the studies met the endpoints agreed by the U.S. Food and Drug Administration and the European Medicines Agency.

Even though Ra Capital acquired shares of Furiex Pharmaceuticals Inc (NASDAQ:FURX) after the price of the stock surged, we can assume that the fund still expects it to gain some ground. Aside from Ra, which now holds a significant stake in Furiex, another shareholder is Chuck Royce‘s Royce & Associates, which in the third quarter of last year held 232,900 shares of the company.

Ra Capital is a fund focused on the healthcare sector, investing in companies with perspectives to deliver promising drugs and technologies. Last month, the fund reported selling 300,000 shares of Derma Sciences Inc (NASDAQ:DSCI), reducing its stake to 1.69 million shares. Also, the fund has been bullish on Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) raising the stake to 23.4 million shares.

Disclosure: none

Recommended Reading:

Deerfield Management Discloses Stake in Post-IPO Auspex Pharmaceuticals Inc (ASPX)

Deerfield Management & Brookside Capital Revealed Significant Stakes in Newly Public Dicerna Pharmaceuticals Inc (DRNA)

Sanford J. Colen’s Apex Capital’s Top Picks Include Netflix, Inc. (NFLX) & eBay Inc (EBAY) Among Others

Dividend Stock Alert - Billionaire Robbins' Top Dividend Idea With 70% Upside Potential

Get Paid 3.5% Per Year While Waiting For The Stock Appreciate 70%

Larry Robbins' Glenview Capital Opportunity Fund returned 101.7% in 2013 and Robbins personally made $750 million. The same fund returned 25.3% in 2014. In this FREE REPORT we will share Robbins' top dividend idea that yields 3.5% and has been increasing its dividends for 39 consecutive years. Robbins thinks the stock has the potential to appreciate 70%.

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Click here to Read Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 74 percentage points in 2.5 years. Our beta is only 1.2 (download a FREE newsletter and see the details inside)

Lists

Best Selling Magazines in the World

Shortest People in History

The Most Celebrated Holidays in the World

Most Expensive Handbag Brands in the World

Top Selling Comic Book Issues of this Century

The Most Powerful Women in Politics

Best Paid DJs

Most Rebellious Female Artists

Best Paid TV Actresses of 2014

Best Paid Actors of 2014

Most Expensive Horses in the World

Tallest People Ever

Most Encouraging Feminist Celebrities

Best Paid Supermodels of 2014

Top 10 Suburbs for Retirement in 2015

10 Wealthiest Cities in America

Top 10 TED Talks for Entrepreneurs

Best TED Talks on Education

25 Most Dangerous Places to Live in America

Top 10 Ski Resorts in the United States – 2014 List

Top 10 Most Remote Places in the World

Most Visited Museums in the United States

Wealthiest Photographers in the World

Most Famous Gay Athletes

The World’s Most Famous Circuses

Best Hair Stylists

Most Popular NASCAR Drivers

The Best Romance Movies of all Time

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

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 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!