Furiex Pharmaceuticals major shareholder Buys $1,061,061,270 in Stock (FURX)

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Furiex Pharmaceuticals (NASDAQ:FURX) major shareholder Forest Laboratories, Llc acquired 11,169,066 shares of the company’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were purchased at an average price of $95.00 per share, for a total transaction of $1,061,061,270.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Shares of Furiex Pharmaceuticals (NASDAQ:FURX) opened at 104.77 on Wednesday. Furiex Pharmaceuticals has a 1-year low of $32.05 and a 1-year high of $121.97. The stock has a 50-day moving average of $104.4 and a 200-day moving average of $84.2. The company’s market cap is $1.132 billion.

Furiex Pharmaceuticals (NASDAQ:FURX) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($1.25) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.63) by $0.62. The company had revenue of $6.40 million for the quarter, compared to the consensus estimate of $10.01 million. During the same quarter last year, the company posted $0.82 earnings per share. Furiex Pharmaceuticals’s revenue was down 83.7% compared to the same quarter last year. Analysts expect that Furiex Pharmaceuticals will post $-2.27 EPS for the current fiscal year.

Furiex Pharmaceuticals, Inc is a drug development collaboration company. The Company’s product pipeline includes two marketed products and three programs in development, including late-stage compounds, in multiple therapeutic areas.

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