Health and Healthcare
Major Pharma Short Interest Continues to Recede
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The short interest data have been released for the April 29 settlement date. Pharmaceutical companies usually are 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 April 29 short interest data have been compared with the previous figures, and for most of the selected pharmaceutical stocks short interest decreased.
Pfizer Inc. (NYSE: PFE) saw its short interest fall sharply to 108.39 million shares from the previous 149.82 million. Shares of Pfizer closed Tuesday at $33.50, within a 52-week trading range of $28.25 to $36.46.
Merck & Co. Inc. (NYSE: MRK) saw a decrease in short interest to 27.68 million shares from 30.40 million in the previous period. Merck shares closed Tuesday at $54.68, in a 52-week range of $45.69 to $61.70.
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