Ascentage Pharma Group International - Unsponsored ADR (NASDAQ:AAPG) Sees Large Increase in Short Interest

Key Points

• Short interest nearly doubled to 18,161 shares as of October 15, up 96.3% from September 30, though it represented 0.0% of shares outstanding and equated to 2.5 days of average trading volume.
• Analysts remained broadly bullish, with a consensus “Buy” rating and $43.90 price target. JPMorgan lowered its target to $33, while Citigroup initiated coverage with a $46 target and BTIG maintained a $48 target.
• AAPG opened at $14.25, near its 12-month low of $13.99 and below its 50-day and 200-day moving averages. The company reported a quarterly loss of $0.65 per share on $22.24 million in revenue, and analysts expect a full-year loss of $2.43 per share.

Ascentage Pharma Group International - Unsponsored ADR (NASDAQ:AAPG - Get Free Report) was the recipient of a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 18,161 shares, an increase of 96.3% from the September 30th total of 9,250 shares. Currently, 0.0% of the company's stock are short sold. Based on an average daily volume of 7,124 shares, the short-interest ratio is presently 2.5 days.

Analyst Ratings Changes

Several research firms recently commented on AAPG. JPMorgan Chase & Co. lowered their target price on Ascentage Pharma Group International from $46.00 to $33.00 and set an "overweight" rating for the company in a research note on Thursday, October 8th. BTIG Research reaffirmed a "buy" rating and issued a $48.00 price target on shares of Ascentage Pharma Group International in a research report on Friday, August 21st. Citigroup started coverage on Ascentage Pharma Group International in a research note on Wednesday, October 14th. They issued a "buy" rating and a $46.00 price objective for the company. Citizens Jmp started coverage on Ascentage Pharma Group International in a research report on Tuesday, October 13th. They set a "market outperform" rating and a $35.00 price objective for the company. Finally, William Blair started coverage on shares of Ascentage Pharma Group International in a research note on Friday, October 16th. They set an "outperform" rating on the stock. Two analysts have rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company's stock. According to data from MarketBeat, Ascentage Pharma Group International currently has a consensus rating of "Buy" and a consensus price target of $43.90.

Ascentage Pharma Group International Price Performance

Shares of AAPG opened at $14.25 on Friday. The firm's fifty day simple moving average is $15.85 and its 200-day simple moving average is $20.20. Ascentage Pharma Group International has a twelve month low of $13.99 and a twelve month high of $34.50. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.18 and a current ratio of 1.22.

Ascentage Pharma Group International (NASDAQ:AAPG - Get Free Report) last issued its earnings results on Wednesday, August 19th. The company reported ($0.65) EPS for the quarter. The company had revenue of $22.24 million for the quarter. As a group, equities research analysts expect that Ascentage Pharma Group International will post -2.43 EPS for the current year.

About Ascentage Pharma Group International

Ascentage Pharma Group International is a commercial-stage biopharmaceutical company focused on developing and commercializing treatments for cancer and other serious diseases.

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