Health and Healthcare
Major Pharma Short Interest Takes Another Giant Leap Forward
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The short interest data have been released for the December 15 settlement date. Pharmaceutical companies are usually involved in a lengthy process in getting their drug candidates to market through clinical trials. There is a fair amount of risk involved, should a study come back negative or a candidate not be approved. Conversely, if a drug is approved or passes a clinical trial, there can be big upside.
The December short interest data have been compared with the previous figures, and for most of the selected pharmaceutical stocks short interest was up.
Pfizer Inc. (NYSE: PFE) saw its short interest jump to 85.66 million shares from the previous 65.52 million. Last February, short interest spiked incredibly, and since that time it has slowly backed off. The highest short interest reading on the year was 207.4 million. Shares of Pfizer closed Thursday at $32.62, within a 52-week trading range of $28.47 to $36.46.
Merck & Co. Inc. (NYSE: MRK) saw short interest increase to 25.61 million shares from 24.81 million in the previous period. Merck shares closed Thursday at $52.85, in a 52-week trading range of $45.69 to $63.62.
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