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Deerfield Management Initiates Passive Stake in Horizon Pharma Inc (HZNP)

James E. Flynn‘s healthcare-focused Deerfield Management has revealed, in a new filing with the SEC, initiating a passive stake in Horizon Pharma Inc (NASDAQ:HZNP). Deerfield owns around 4.4 million shares of the company, equal to 6.7% of the company’s common stock. The value of the position amounts to 31.2 million, at the current stock price of the company.

Horizon Pharma

Currently, other funds also have positive stakes in Horizon Pharma, Inc. (NASDAQ:HZNP). Thomas Steyer‘s Farallon Capital has been the most bullish, with no activity during the quarter, Holding 2.2 million shares, valued at $7.4 million. It is followed by Carl Goldsmith and Scott Klein’s Beach Point Capital Management, which was very much active in last quarter and owns over 1.88 million shares, worth $6.3 million. Meanwhile Kevin Kotler’s Broadfin Capital was a new entrant in the third quarter, reporting 1.88 million shares, worth $6.2 million.

In November, Broadfin reported boosting its stake in Horizon Pharma, Inc. (NASDAQ:HZNP). Currently, the fund holds around 3.9 million shares, which represent 5.9% of outstanding stock.

In a major development Horizon Pharma, Inc. (NASDAQ:HZNP) has been included in NASDAQ Biotechnology Index last week. NASDAQ Biotechnology Index consists of stocks which have market capitalization of $200 million and average trading volume of 100,000 shares on daily basis. Horizon Pharma, Inc. (NASDAQ:HZNP) specifically works on therapeutic needs in arthritis, pain and inflammatory diseases. Horizon Pharma, Inc. (NASDAQ:HZNP) has been rated as ‘buy’ by Zacks Equity Research in its latest report.

Disclosure: none

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