PharmAthene Sees Significant Growth in Short Interest (PIP)
PharmAthene (NYSE:PIP) was the recipient of a large increase in short interest in the month of August. As of August 15th, there was short interest totalling 2,938,186 shares, an increase of 17.0% from the July 31st total of 2,510,648 shares, Stock Ratings Network reports. Approximately 6.3% of the company’s stock are sold short. Based on an average trading volume of 1,318,703 shares, the days-to-cover ratio is presently 2.2 days.
Several analysts have recently commented on the stock. Analysts at Noble Financial cut their price target on shares of PharmAthene to $6.00 in a research note on Monday, August 18th. Analysts at Aegis raised their price target on shares of PharmAthene to $6.00 in a research note on Monday, August 11th.
Shares of PharmAthene (NYSE:PIP) traded up 5.26% on Tuesday, hitting $2.20. 641,924 shares of the company’s stock traded hands. PharmAthene has a one year low of $1.19 and a one year high of $2.34. The stock has a 50-day moving average of $1.56 and a 200-day moving average of $1.62. The company’s market cap is $124.2 million.
PharmAthene (NYSE:PIP) last posted its quarterly earnings results on Monday, August 4th. The company reported ($0.01) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.06) by $0.05. On average, analysts predict that PharmAthene will post $-0.13 earnings per share for the current fiscal year.
PharmAthene, Inc is a biodefense company engaged in the development and commercialization of medical countermeasures against biological and chemical weapons.
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