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Targacept (NASDAQ:TRGT) saw a large decrease in short interest in August. As of August 15th, there was short interest totalling 823,717 shares, a decrease of 34.0% from the July 31st total of 1,248,234 shares, Stock Ratings Network.com reports. Based on an average trading volume of 263,133 shares, the short-interest ratio is currently 3.1 days. Currently, 2.8% of the company’s stock are sold short.

Several analysts have recently commented on the stock. Analysts at MKM Partners cut their price target on shares of Targacept from $3.50 to $3.00 in a research note on Tuesday, July 29th. They now have a “neutral” rating on the stock.

Targacept (NASDAQ:TRGT) opened at 2.72 on Thursday. Targacept has a 52 week low of $2.68 and a 52 week high of $6.11. The stock’s 50-day moving average is $3.07 and its 200-day moving average is $4.05. The company’s market cap is $91.9 million.

Targacept (NASDAQ:TRGT) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.24) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.33) by $0.09. The company had revenue of $0.04 million for the quarter. During the same quarter in the prior year, the company posted ($0.37) earnings per share. On average, analysts predict that Targacept will post $-1.07 earnings per share for the current fiscal year.

Targacept, Inc is a biopharmaceutical company. The Company is engaged in the design, discovery and development of NNR Therapeutics for the treatment of diseases and disorders of the nervous system.

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