Cohen's SAC Capital Accumulates 5.1% Stake in Inspire Pharmaceuticals (ISPH)
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In a 13G filing on Inspire Pharmaceuticals, Inc. (Nasdaq: ISPH), Steven Cohen's SAC Capital disclosed a 5.1% stake (2,874,900 share) in the company. The hedge fund did not show a stake in Inspire at the quarter ended 3/31/08.
Inspire Pharmaceuticals, a biopharmaceutical company, engages in discovering, developing, and commercializing prescription pharmaceutical products for diseases in the ophthalmic and respiratory/allergy areas.
SAC is a multi-strategy, private asset management firm founded by Steven A. Cohen in 1992 with 9 employees and $25 million in assets under management. As of September 2007, the firm has grown to over 800 employees with approximately $14 billion in assets.
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