A Look at Visium Asset Management’s Top Picks Amid Loud Insider Trading Case

#4. Pacira Pharmaceuticals Inc. (NASDAQ:PCRX)

– Shares owned by Visium Asset Management as of March 31: 2.24 Million

– Value of Visium Asset Management’s holding as of March 31: $118.63 Million

The New York-based hedge fund trimmed its exposure to Pacira Pharmaceuticals Inc. (NASDAQ:PCRX) by 51,912 shares during the first quarter of 2016, ending the period with 2.24 million shares valued at $118.63 million. The reduced stake made up roughly 2.0% of the fund’s portfolio at the end of March. The specialty pharmaceutical company focused on developing medicines for use in hospitals and ambulatory surgery centers has seen its market value plummet by 47% since the beginning of the year. It appears that investors are increasingly worried about the slowing growth rate of Exparel sales. Exparel, an injectable treatment administered to relieve pain after surgery, derived roughly 97% of Pacira’s first-quarter top line. First-quarter Exparel sales grew 14% year-over-year to $63.75 million. The company’s operating expenses also jumped alarmingly in the first quarter of the year. Lee Ainslie’s Maverick Capital added a 1.61 million-share position in Pacira Pharmaceuticals Inc. (NASDAQ:PCRX) to its portfolio during the first quarter of 2016.

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#3. Endo International plc (NASDAQ:ENDP)

– Shares owned by Visium Asset Management as of March 31: 6.68 Million

– Value of Visium Asset Management’s holding as of March 31: $188.06 Million

Jacob Gottlieb’s multi-billion-dollar hedge fund boosted its stake in Endo International plc (NASDAQ:ENDP) by 1.51 million shares during the January-to-March period to 6.68 million shares. The increased stake was worth $188.06 million on March 31 and accounted for 3.2% of the investment firm’s portfolio. The specialty pharmaceutical company producing specialty branded pharmaceuticals and generic products is among the biggest losers of 2016, as the company has lost 72% of its market value since the start of 2016. The recent downward revision of its full-year earnings outlook, which mainly reflected competitive pressure in base generics business and loss of exclusivity for Voltaren gel, put significant weight on Endo’s stock. Just recently, analysts at Mizuho Securities upgraded Endo International to ‘Neutral’ from ‘Underperform’ and raised the price target on the stock to $16 from $13, citing likely shareholder pressure to create value through restructuring options. John Paulson’s Paulson & Co. owns 9.52 million shares of Endo International plc (NASDAQ:ENDP) as of March 31.

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