Baupost Group Drops Targacept While SAC Buys Amarin

Several major investors made moves in the pharmaceuticals arena last week as the ups and downs in that industry came to the fore. The Baupost Group sold off its entire holdings of the Biotechnology firm Targacept Inc. (NASDAQ:TRGT) and SAC Capital advisers continued to increase its stake in the pharmaceuticals research firm Amarin Corporation plc (NYSE:AMRN). Both pieces of news demonstrated the fickle nature of the research pharmaceuticals sector which can rise and fall so quickly based on results of trials and approval from regulators.

No one was more aware of this...