GL Partners Adds to Position in SciClone Pharmaceuticals; Reveals New Stake in China Biologic Products

Published November 21, 2013 at 11:21 am EST

GL Partners Capital Management has increased the holding of SciClone Pharmaceuticals, Inc. (NASDAQ:SCLN) stock. In a recent filing with the Securities and Exchange Commission, the fund has revealed that it now holds 3.7 million shares of SciClone Pharmaceuticals, up from the previously reported 3.3 million. GL Partners’ current position accounts for 7.1% of the company’s outstanding shares. The fund has also reported opening a position in China Biologic Products Inc (NASDAQ:CBPO).

SciClone Pharmaceuticals provides therapy solutions for a number of disorders, both in People’s Republic of China and internationally. Company shares have registered a significant rally in July and, following the top in the beginning of August, have fallen back to the level they traded at in January. At the moment, shares change hands at a price of $4.66 and have a trailing Price to Earnings (P/E) ratio of 20.26. The forward P/E ratio of 8.59 suggests market participants expect the company to improve it’s financial performance. In the third quarter of 2013, SciClone Pharmaceuticals registered revenues of $35 million and earnings per share of $0.16. Analysts expect the share price to bounce back, having set a mean target of $8 apiece.

GL Partners has also initiated a passive position in China Biologic Products. The fund has acquired a little under 1.5 million shares of the biopharmaceutical company, which represents 5.8% of the common stock.

China Biologic’s stock has rallied 99% in 2013, with shares currently trading at $29.35. The stock has a trailing P/E ratio of 15.69 and does not pay a dividend. For the third quarter of 2013, China Biologic Products has reported revenues of $53 million and earnings per diluted share of $0.53. Analysts expect a weaker financial performance in the current quarter, forecasting revenues of $41.5 million and earnings per share of $0.38.

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