Short Interest in Chugai Pharmaceutical Co., Ltd. Unsponsored ADR (OTCMKTS:CHGCY) Decreases By 54.9%

Key Points

• Short interest in Chugai Pharmaceutical’s ADR fell 54.9% to 28,818 shares as of July 31, representing 0.0% of shares outstanding and a 0.1-day days-to-cover ratio.
• The stock opened at $21.55, with a $70.93 billion market capitalization, a 23.42 price-to-earnings ratio, and a trading range of $20.27 to $34.84 over the past year.
• Chugai reported quarterly EPS of $0.22 and revenue of $2.14 billion, below the $2.38 billion consensus estimate. Analysts’ overall view remains “Moderate Buy,” though UBS recently downgraded the shares to “hold.”

Chugai Pharmaceutical Co., Ltd. Unsponsored ADR (OTCMKTS:CHGCY - Get Free Report) was the target of a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 28,818 shares, a drop of 54.9% from the July 15th total of 63,921 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 465,929 shares, the days-to-cover ratio is presently 0.1 days.

Chugai Pharmaceutical Price Performance

CHGCY stock opened at $21.55 on Friday. The firm has a market cap of $70.93 billion, a price-to-earnings ratio of 23.42 and a beta of 0.60. Chugai Pharmaceutical has a 1-year low of $20.27 and a 1-year high of $34.84. The firm has a fifty day moving average price of $22.57 and a two-hundred day moving average price of $25.87.

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 (EPS) for the quarter. Chugai Pharmaceutical had a net margin of 35.09% and a return on equity of 23.71%. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.38 billion. As a group, analysts expect that Chugai Pharmaceutical will post 0.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CHGCY. 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 Chugai Pharmaceutical to a "hold" rating in a research report on Friday, May 29th. Finally, UBS Group lowered Chugai Pharmaceutical from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate 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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