Now, let’s take a look at Broadfin Capital’s top holdings as of March 31. On the top position is Horizon Pharma PLC (NASDAQ:HZNP), a $5.16 billion market cap specialty biopharmaceutical company. During the first quarter, Broadfin Capital decreased its stake in the company by 21% to 7.05 million shares, valued at $183.2 million. Horizon Pharma PLC (NASDAQ:HZNP) posted impressive financial results for the first quarter of 2015, with its total sales increasing by 118% to $113.1 million, compared to the same quarter last year. The company was able to narrow its net loss to $19.6 million, a significant reduction from the loss of $206.3 million it suffered in the first quarter last year. Horizon Pharma PLC (NASDAQ:HZNP)’s stock performance has been strong alongside that improved performance, growing by 157.87% year-to-date (YTD). Other investors that see value in the company include James E. Flynn’s Deerfield Management, and Arthur B Cohen and Joseph Healey’s Healthcor Management LP, with ownership of 12.79 million shares and 4.0 million shares, respectively.
Next on our list is Flamel Technologies S.A. (ADR) (NASDAQ:FLML), in which Broadfin Capital cut its stake by 9% to 4.72 million shares, valued at $84.87 million. France-based Flamel Technologies S.A. (ADR) (NASDAQ:FLML) is an $872.28 million market cap pharmaceutical company. Flamel Technologies S.A. (ADR) (NASDAQ:FLML) improved its financial situation in the first quarter, as its total revenues increased to $32.7 million, a $28.1 million increase compared to the same period last year. The company reported net income from continuing operations of $11.6 million, versus a loss of $26.9 million in the same quarter a year ago. Shares of Flamel Technologies S.A. (ADR) (NASDAQ:FLML) have been performing well, moving up by 20.9% year-to-date. Among other investors we track is Israel Englander’s Millennium Management, which held 1.83 million shares of the company as of March 31.
Lastly is Retrophin Inc (NASDAQ:RTRX), in which Broadfin Capital upped its stake by 12% to 2.96 million shares, worth about $71.0 million. The $1.14 billion market cap biopharmaceutical company is engaged in the development of therapies for debilitating and often life-threatening diseases. Recently, Retrophin Inc (NASDAQ:RTRX) announced that it received ‘Fast Track’ designation for its novel investigational phosphopantothenate replacement therapy (RE-024) for the treatment of pantothenate kinase-associated neurodegeneration (PKAN). Currently, there is no available treatment for PKAN, a rare and lethal autosomal recessive neurodegenerative disorder. The company is now conducting its Phase 1 clinical trial of RE-024. Retrophin Inc (NASDAQ:RTRX)’s stock performance is incredible, with its value increasing by 172.69% during the past year. Mitchell Blutt’s Consonance Capital Management was bullish on Retrophin Inc (NASDAQ:RTRX) during the last quarter, upping its position by 22% to 3.11 million shares.
Disclosure: None
