Major Pharma Short Interest Takes a Small Step Back

Health and Healthcare

Published: March 10, 2016 8:40 am

Last Updated: January 13, 2020 12:08 pm

The short interest data have been released for the February 29 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 February 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 jump to 172.54 million shares, relative to the previous 151.01 million. Shares of Pfizer closed Wednesday at $29.74, within a 52-week trading range of $28.25 to $36.46.

Merck & Co. Inc. (NYSE: MRK) saw a slight decrease in short interest to 34.34 million shares from 34.49 million in the previous period. Merck shares closed Wednesday at $52.36, in a 52-week range of $45.69 to $61.70.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) short interest dropped to 13.80 million shares. The previous level was 14.77 million, the highest in the past 52 weeks. Shares of Teva closed Wednesday at $57.90, in a 52-week range of $53.78 to $72.31.

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Bristol-Myers Squibb Co. (NYSE: BMY) saw its short interest decrease to 22.72 million shares from the previous reading of 23.51 million. Shares closed Wednesday at $65.54, within a 52-week range of $51.82 to $70.87.

AbbVie Inc. (NYSE: ABBV) short interest decreased slightly to 24.09 million shares, compared to the previous level of 24.70 million. Short interest has backed way off its highest level of the past year back in May. Shares of AbbVie closed Wednesday at $56.39, in a 52-week trading range of $45.45 to $71.60.

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