Oak Ridge Investments LLC Has $5.97 Million Stake in Retrophin Inc (RTRX)
Oak Ridge Investments LLC lowered its stake in shares of Retrophin Inc (NASDAQ:RTRX) by 6.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 263,596 shares of the biopharmaceutical company’s stock after selling 17,523 shares during the quarter. Oak Ridge Investments LLC’s holdings in Retrophin were worth $5,965,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in Retrophin by 117.5% during the third quarter. AQR Capital Management LLC now owns 29,132 shares of the biopharmaceutical company’s stock valued at $837,000 after purchasing an additional 15,740 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Retrophin by 33.5% in the third quarter. Legal & General Group Plc now owns 13,541 shares of the biopharmaceutical company’s stock worth $389,000 after buying an additional 3,395 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Retrophin by 1.4% in the third quarter. Vanguard Group Inc. now owns 1,928,602 shares of the biopharmaceutical company’s stock worth $55,409,000 after buying an additional 26,016 shares in the last quarter. Federated Investors Inc. PA lifted its holdings in shares of Retrophin by 4.3% in the third quarter. Federated Investors Inc. PA now owns 93,495 shares of the biopharmaceutical company’s stock worth $2,686,000 after buying an additional 3,855 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Retrophin in the fourth quarter worth about $494,000.
RTRX has been the topic of a number of recent analyst reports. BidaskClub downgraded shares of Retrophin from a “hold” rating to a “sell” rating in a report on Friday, January 25th. TheStreet downgraded shares of Retrophin from a “c-” rating to a “d+” rating in a report on Friday, February 22nd. Zacks Investment Research raised shares of Retrophin from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 27th. Svb Leerink reissued an “outperform” rating on shares of Retrophin in a report on Tuesday, February 26th. Finally, ValuEngine downgraded shares of Retrophin from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $45.67.
Retrophin (NASDAQ:RTRX) last announced its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.41). Retrophin had a negative return on equity of 41.38% and a negative net margin of 75.75%. The firm had revenue of $39.57 million during the quarter, compared to analysts’ expectations of $41.40 million. During the same period in the previous year, the company posted ($0.14) earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, sell-side analysts predict that Retrophin Inc will post -3.02 earnings per share for the current year.
In related news, CFO Laura Clague sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $18.25, for a total value of $45,625.00. Following the sale, the chief financial officer now directly owns 14,750 shares of the company’s stock, valued at $269,187.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William E. Rote sold 1,625 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $17.77, for a total transaction of $28,876.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,819 shares of company stock worth $194,503. Insiders own 4.32% of the company’s stock.
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Retrophin, Inc, a biopharmaceutical company, focuses on the identification, development, acquisition, and commercialization of therapies for the treatment of rare diseases. Its marketed products include Chenodal, a synthetic oral form of chenodeoxycholic acid for the treatment of radiolucent stones in well-opacifying gallbladders; Cholbam, a cholic acid capsule to treat pediatric and adult patients with bile acid synthesis disorders due to single enzyme defects, as well as for adjunctive treatment of patients with peroxisomal disorders; and Thiola, a tiopronin tablet for the treatment of cystinuria.
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