Visium Asset Management Raises Exposure To Horizon Pharma Inc. (HZNP)

Visium Asset Management, managed by Jacob Gottlieb, has boosted its position in Horizon Pharma Inc. (NASDAQ:HZNP), a new filing with the U.S. Securities and Exchange Commission showed. The fund has revealed a 5.5% passive stake in Horizon Pharma, Inc. (NASDAQ: HZNP). The new stake contains 4.15 million shares of the company’s common stock. In its latest 13F filing, the fund reported ownership of 2.24 million shares of the company.

Horizon Pharma

Horizon Pharma Inc. (NASDAQ:HZNP) is a specialty pharmaceutical company engaged in identifying, acquiring and commercializing differentiated products that address unmet medical needs. Other largest shareholders of the company include Broadfin Capital, managed by Kevin Kotler, which disclosed holding 4.31 million shares of the company, and Mark Kingdon’s Kingdon Capital, which owns 2.03 million shares of the company.

For the second quarter of 2014, the company reported record total net sales of $66.1 million, compared with $11.1 million in the second quarter of 2013, representing 495% year over year growth. Adjusted non-GAAP net income amounted to $20.7 million, or $0.28 adjusted non-GAAP basic earnings per share and $0.21 adjusted non-GAAP diluted earnings per share. The company posted total operating expenses of $48.4 million, up from $24.5 million in the same period of 2013. For 2015, the company provided preliminary net revenue guidance in the range of $380 million to $405 million and preliminary adjusted EBITDA guidance in the range of $150 million to $170 million, according to a press release.

Horizon Pharma Inc. (NASDAQ:HZNP) has a market cap of $682.04 million. Shares of the company traded down by 0.16% to $9.22 on Monday.

Founded in 2005, Visium Asset Management focuses on healthcare stocks. The key investment interests of the fund are industrials, utilities, financials, energy, credit, special situations, risk arbitrage, convertible bond arbitrage, and macro and quantitative investments. Recently, Visium Asset Management reported raising its stake in The Spectranetics Corporation (NASDAQ:SPNC) to 2.16 million shares.

Disclosure: none

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