Chugai Pharmaceutical Co., Ltd. Unsponsored ADR (OTCMKTS:CHGCY) Sees Large Growth in Short Interest

Key Points

• Short interest more than doubled to 63,921 shares as of July 15, up 109.1% from June 30, though short interest represents 0.0% of shares outstanding and amounts to just 0.1 days to cover.
• Chugai Pharmaceutical shares opened at $21.45, with the stock trading below both its 50-day and 200-day moving averages. The company reported quarterly EPS of $0.22 and revenue of $2.14 billion, below analysts’ $2.38 billion estimate.
• Analyst sentiment remains positive: Goldman Sachs upgraded the stock to “buy,” and MarketBeat data shows a consensus “Buy” rating from two Strong Buy, one Buy, and one Hold recommendation.

Chugai Pharmaceutical Co., Ltd. Unsponsored ADR (OTCMKTS:CHGCY - Get Free Report) was the recipient of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 63,921 shares, a growth of 109.1% from the June 30th total of 30,569 shares. Based on an average trading volume of 505,096 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the shares of the stock are sold short.

Chugai Pharmaceutical Stock Up 2.5%

Shares of OTCMKTS CHGCY opened at $21.45 on Wednesday. The firm has a 50-day simple moving average of $23.25 and a 200-day simple moving average of $26.32. The stock has a market capitalization of $70.62 billion, a price-to-earnings ratio of 23.32 and a beta of 0.59. Chugai Pharmaceutical has a 52 week low of $19.50 and a 52 week high of $34.84.

Chugai Pharmaceutical (OTCMKTS:CHGCY - Get Free Report) last posted its quarterly earnings results on Friday, July 24th. The company reported $0.22 earnings per share for the quarter. Chugai Pharmaceutical had a net margin of 35.09% and a return on equity of 23.71%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.38 billion. As a group, equities research analysts expect that Chugai Pharmaceutical will post 0.98 EPS for the current year.

Analyst Ratings Changes

CHGCY has been the subject of a number of research analyst reports. The Goldman Sachs Group upgraded shares of Chugai Pharmaceutical from a "hold" rating to a "buy" rating in a research report on Monday, June 15th. Zacks Research upgraded shares of Chugai Pharmaceutical to a "hold" rating in a research report on Friday, May 29th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Chugai Pharmaceutical has a consensus rating of "Buy".

About Chugai Pharmaceutical

Chugai Pharmaceutical Co, Ltd. is a Japan-based biopharmaceutical company headquartered in Tokyo that focuses on the discovery, development, manufacture and marketing of prescription medicines. The company develops both biologics and small-molecule therapies, with particular emphasis on oncology and immunology as well as treatments for bone and metabolic disorders. Chugai's activities span the full drug lifecycle from early research and clinical development through regulatory approval, manufacturing and post-marketing support.

Chugai is known for its research-driven approach and its work on monoclonal antibodies and other biologic therapeutics.

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