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Thursday, July 5, 2012

Hedge Funds Love These 6 Outperforming Drugmakers

An assortment of United States coins, includin...
An assortment of United States coins, including quarters, dimes, nickels and pennies. (Photo credit: Wikipedia)
Do you like to follow the buying trends of smart money investors? We ran a screen to find drugmaker stocks currently in favor by hedge fund managers.We began by screening the drugmaker industry for stocks that have outperformed the market over the last quarter, with quarterly performance above 10%. We then screened for those with bullish sentiment from institutional investors, with significant net institutional purchases over the last quarter representing at least 5% of share float. This indicates that institutional investors such as hedge fund managers and mutual fund managers expect these names to outperform into the future. Do you think hedge funds are calling it right on these names? Use this list as a starting point for your own analysis. List sorted by net institutional purchases as a percent of share float.
1. Horizon Pharma, Inc. (HZNP): Develops and commercializes medicines for the treatment of arthritis, pain, and inflammatory diseases. Market cap at $278.03M. Price at $8.25. Performance over the last quarter at 91.86%. Net institutional purchases in the current quarter at 7.4M shares, which represents about 29.19% of the company's float of 25.35M shares.
For an interactive version of this chart, click on the image below. Analyst ratings sourced from Zacks Investment Research. ... Continue to read.
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