Short Interest in Chugai Pharmaceutical Co., Ltd. Unsponsored ADR (OTCMKTS:CHGCY) Expands By 90.3%

Key Points

• Short interest in Chugai Pharmaceutical’s ADR rose 90.3% to 27,111 shares as of August 31, though short positions represented 0.0% of shares and amounted to just 0.1 days of average trading volume.
• Analyst sentiment remains positive, with the stock carrying a “Moderate Buy” consensus rating based on one Strong Buy, one Buy and three Hold ratings.
• Chugai opened at $20.75, near its 52-week low of $20.00 and below its 50- and 200-day moving averages. Its latest quarter included $0.22 in EPS and $2.14 billion in revenue, below the $2.38 billion consensus estimate.

Chugai Pharmaceutical Co., Ltd. Unsponsored ADR (OTCMKTS:CHGCY - Get Free Report) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 27,111 shares, an increase of 90.3% from the August 15th total of 14,245 shares. Based on an average daily trading volume, of 331,733 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CHGCY. The Goldman Sachs Group raised shares of Chugai Pharmaceutical from a "hold" rating to a "buy" rating in a report on Monday, June 15th. UBS Group downgraded shares of Chugai Pharmaceutical from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 6th. Nomura upgraded shares of Chugai Pharmaceutical to a "hold" rating in a report on Tuesday, September 1st. Finally, Zacks Research raised shares of Chugai Pharmaceutical to a "hold" rating in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy".

Chugai Pharmaceutical Stock Performance

Shares of OTCMKTS:CHGCY opened at $20.75 on Tuesday. The stock's 50-day simple moving average is $21.83 and its two-hundred day simple moving average is $24.67. The stock has a market capitalization of $68.30 billion, a price-to-earnings ratio of 22.55 and a beta of 0.59. Chugai Pharmaceutical has a 52-week low of $20.00 and a 52-week high of $34.84.

Chugai Pharmaceutical (OTCMKTS:CHGCY - Get Free Report) last posted its quarterly earnings data on Friday, July 24th. The company reported $0.22 earnings per share (EPS) for the quarter. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.38 billion. Chugai Pharmaceutical had a net margin of 35.09% and a return on equity of 23.76%. As a group, equities analysts forecast that Chugai Pharmaceutical will post 0.96 earnings per share for the current fiscal year.

About Chugai Pharmaceutical

Chugai Pharmaceutical Co, Ltd. is a Japan-based research-driven pharmaceutical company headquartered in Tokyo. Founded in 1925, the company focuses on discovering, developing, manufacturing and commercializing prescription medicines, with an emphasis on biotechnology and innovative therapies for serious and unmet medical needs.

Chugai's principal therapeutic areas include oncology, hematology, immunology, neuroscience and renal diseases. Its products include Actemra (known as RoActemra in some markets) for inflammatory and immune-related conditions, Hemlibra for hemophilia A, and Alecensa for certain forms of lung cancer.

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