Is Retrophin Inc (RTRX) A Good Stock To Buy?

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Retrophin Inc (NASDAQ:RTRX) shareholders have witnessed an increase in hedge fund interest recently. RTRX was in 23 hedge funds’ portfolios at the end of September. There were 18 hedge funds in our database with RTRX holdings at the end of the previous quarter. At the end of this article we will also compare RTRX to other stocks including Rent-A-Center Inc (NASDAQ:RCII), SciClone Pharmaceuticals, Inc. (NASDAQ:SCLN), and Triangle Capital Corporation (NYSE:TCAP) to get a better sense of its popularity.

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What does the smart money think about Retrophin Inc (NASDAQ:RTRX)?

At Q3’s end, a total of 23 of the hedge funds tracked by Insider Monkey held long positions in this stock, a 28% increase from the second quarter of 2016. Hedge funds have been consistently buying into and then selling out of the stock over the past year, creating a W-shaped ownership chart. With hedgies’ positions undergoing their usual ebb and flow, there exists an “upper tier” of notable hedge fund managers who were boosting their holdings substantially (or already accumulated large positions).
According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Matt Sirovich and Jeremy Mindich’s Scopia Capital has the biggest position in Retrophin Inc (NASDAQ:RTRX), worth close to $95.2 million, accounting for 1.7% of its total 13F portfolio. The second largest stake is held by Broadfin Capital, led by Kevin Kotler, holding a $77.6 million position; the fund has 7% of its 13F portfolio invested in the stock. Other professional money managers that are bullish comprise Mitchell Blutt’s Consonance Capital Management, Joseph Edelman’s Perceptive Advisors and Israel Englander’s Millennium Management.

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