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Health and Healthcare

Short Sellers Back Way Off Major Pharma Stocks

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By Chris Lange Updated Published
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Short Sellers Back Way Off Major Pharma Stocks

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The short interest data have been released for the November 30 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.

Drug prices have been under pressure due to the campaign rhetoric. But now that the election is over and Hillary Clinton—one of the main antagonists of these companies—is no longer running, the pressure has seemingly let up, if just slightly for the moment.

The November 30 short interest data have been compared with the previous figures, and short interest decreased in these selected pharmaceutical stocks.

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Keep in mind that short sellers betting against big pharma are taking on an added risk. They have to pay out the ongoing high dividends on top of the cost of borrowing the shares.

Pfizer Inc. (NYSE: PFE) saw its short interest decrease to 43.74 million shares from the previous 45.68 million. Its shares closed Friday at $31.70, within a 52-week trading range of $28.25 to $37.39.

Merck & Co. Inc. (NYSE: MRK) had a decrease in the number of its shares short to 21.27 million, from 22.20 million in the previous period. Its shares closed Friday at $61.23, in a 52-week range of $47.97 to $65.46.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) short interest decreased to 15.12 million shares. The previous level was 16.50 million. Shares closed Friday at $36.30, in a 52-week range of $34.57 to $66.55.

Bristol-Myers Squibb Co. (NYSE: BMY) saw its short interest remain relatively flat at 15.11 million shares, compared to the previous reading of 15.12 million. Shares closed Friday at $57.04, within a 52-week range of $49.03 to $77.12.

AbbVie Inc. (NYSE: ABBV) short interest decreased to 29.80 million shares, compared to the previous 35.34 million. The stock closed Friday at $61.54, in a 52-week trading range of $50.71 to $68.12.

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Photo of Chris Lange
About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.

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