Rubric Capital Management LP Takes Position in Sucampo Pharmaceuticals, Inc. (SCMP)
Rubric Capital Management LP bought a new stake in shares of Sucampo Pharmaceuticals, Inc. (NASDAQ:SCMP) during the second quarter, Holdings Channel reports. The firm bought 577,900 shares of the biopharmaceutical company’s stock, valued at approximately $6,068,000.
Several other hedge funds have also modified their holdings of SCMP. State Street Corp raised its position in Sucampo Pharmaceuticals by 32.9% in the fourth quarter. State Street Corp now owns 581,835 shares of the biopharmaceutical company’s stock worth $7,882,000 after buying an additional 143,906 shares during the period. Bank of Montreal Can raised its position in Sucampo Pharmaceuticals by 22.9% in the first quarter. Bank of Montreal Can now owns 24,775 shares of the biopharmaceutical company’s stock worth $272,000 after buying an additional 4,615 shares during the period. Capstone Asset Management Co. purchased a new position in Sucampo Pharmaceuticals during the first quarter worth approximately $133,000. Louisiana State Employees Retirement System purchased a new position in Sucampo Pharmaceuticals during the first quarter worth approximately $111,000. Finally, Palisade Capital Management LLC NJ raised its position in Sucampo Pharmaceuticals by 1.7% in the first quarter. Palisade Capital Management LLC NJ now owns 30,000 shares of the biopharmaceutical company’s stock worth $330,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 58.20% of the company’s stock.
Sucampo Pharmaceuticals, Inc. (NASDAQ:SCMP) opened at 10.25 on Friday. The firm’s market capitalization is $474.83 million. The firm has a 50-day moving average of $10.71 and a 200-day moving average of $10.68. Sucampo Pharmaceuticals, Inc. has a 52-week low of $9.30 and a 52-week high of $17.55.
Sucampo Pharmaceuticals (NASDAQ:SCMP) last announced its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.06. The firm had revenue of $59.90 million for the quarter, compared to the consensus estimate of $56.44 million. Sucampo Pharmaceuticals had a negative net margin of 61.99% and a positive return on equity of 56.58%. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 earnings per share. On average, equities research analysts forecast that Sucampo Pharmaceuticals, Inc. will post $1.02 EPS for the current fiscal year.
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SCMP has been the topic of a number of recent analyst reports. Jefferies Group LLC set a $13.00 price target on shares of Sucampo Pharmaceuticals and gave the company a “hold” rating in a research report on Thursday, April 20th. ValuEngine lowered shares of Sucampo Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research upgraded shares of Sucampo Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Maxim Group set a $23.00 price target on shares of Sucampo Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Finally, TheStreet lowered shares of Sucampo Pharmaceuticals from a “c+” rating to a “d” rating in a research report on Wednesday, August 2nd. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $17.63.
In other news, insider Jones W. Bryan acquired 4,700 shares of Sucampo Pharmaceuticals stock in a transaction on Friday, August 4th. The shares were purchased at an average cost of $10.60 per share, for a total transaction of $49,820.00. Following the completion of the purchase, the insider now directly owns 4,700 shares of the company’s stock, valued at approximately $49,820. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 4.13% of the company’s stock.
Sucampo Pharmaceuticals Company Profile
Sucampo Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of pharmaceutical products. Its primary focus areas are gastroenterology, ophthalmology and oncology-related disorders. Its product candidates include VTS-270, Lubiprostone (AMITIZA), Unoprostone is opropyl (RESCULA) and CPP-1X/sulindac combination product.
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