Sabby Management LLC cut its position in shares of Sucampo Pharmaceuticals, Inc. (NASDAQ:SCMP) by 60.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 33,200 shares of the biopharmaceutical company’s stock after selling 51,800 shares during the quarter. Sabby Management LLC owned 0.07% of Sucampo Pharmaceuticals worth $349,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Louisiana State Employees Retirement System increased its position in shares of Sucampo Pharmaceuticals by 1.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 10,200 shares of the biopharmaceutical company’s stock valued at $107,000 after purchasing an additional 100 shares during the period. First Citizens Bank & Trust Co. acquired a new position in shares of Sucampo Pharmaceuticals during the 2nd quarter valued at $116,000. JPMorgan Chase & Co. acquired a new position in shares of Sucampo Pharmaceuticals during the 2nd quarter valued at $117,000. Karp Capital Management Corp acquired a new position in shares of Sucampo Pharmaceuticals during the 1st quarter valued at $119,000. Finally, Pinnacle Associates Ltd. acquired a new position in shares of Sucampo Pharmaceuticals during the 2nd quarter valued at $122,000. Institutional investors own 55.46% of the company’s stock.
In related news, major shareholder Sachiko Kuno sold 1,000,000 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $12.00, for a total value of $12,000,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jones W. Bryan acquired 4,700 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was purchased at an average price of $10.60 per share, with a total value of $49,820.00. Following the transaction, the insider now owns 4,700 shares in the company, valued at $49,820. The disclosure for this purchase can be found here. Corporate insiders own 4.13% of the company’s stock.
Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Sucampo Pharmaceuticals from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Tuesday. UBS AG lowered their price target on Sucampo Pharmaceuticals from $19.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, October 12th. Mizuho cut Sucampo Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their price target for the company from $14.00 to $12.00 in a research report on Tuesday, October 3rd. Leerink Swann assumed coverage on Sucampo Pharmaceuticals in a research report on Monday, August 21st. They set an “outperform” rating and a $15.00 price target on the stock. Finally, Maxim Group reiterated a “buy” rating and set a $23.00 price target (up from $21.00) on shares of Sucampo Pharmaceuticals in a research report on Tuesday, August 8th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $16.50.
Shares of Sucampo Pharmaceuticals, Inc. (NASDAQ:SCMP) traded down 0.97% during trading on Wednesday, hitting $10.25. The company had a trading volume of 74,093 shares. The stock’s market cap is $474.83 million. Sucampo Pharmaceuticals, Inc. has a 12-month low of $9.30 and a 12-month high of $17.55. The firm has a 50 day moving average of $11.61 and a 200 day moving average of $10.71.
Sucampo Pharmaceuticals (NASDAQ:SCMP) last posted its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported $0.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.06. The company had revenue of $59.90 million for the quarter, compared to the consensus estimate of $56.44 million. Sucampo Pharmaceuticals had a positive return on equity of 56.58% and a negative net margin of 61.99%. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.24 EPS. On average, analysts forecast that Sucampo Pharmaceuticals, Inc. will post $1.01 earnings per share for the current fiscal year.
Sucampo Pharmaceuticals 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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