Short Interest in InnoCare Pharma Limited (OTCMKTS:INCPF) Declines By 56.6%

InnoCare Pharma Limited (OTCMKTS:INCPF) saw a significant decline in short interest during the month of May. As of May 29th, there was short interest totaling 1,202,243 shares, a decline of 56.6% from the May 14th total of 2,773,329 shares. Based on an average trading volume of 0 shares, the days-to-cover ratio is presently ? days.

InnoCare Pharma Price Performance

Shares of InnoCare Pharma stock opened at $1.55 on Friday. InnoCare Pharma has a fifty-two week low of $1.55 and a fifty-two week high of $2.31. The business’s fifty day moving average is $1.55 and its two-hundred day moving average is $1.79.

Analysts Set New Price Targets

Separately, Morgan Stanley upgraded InnoCare Pharma to an “overweight” rating in a research report on Thursday, May 28th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy”.

InnoCare Pharma Company Profile

InnoCare Pharma Ltd is a China-based, clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel small-molecule targeted therapies for oncology. Headquartered in Shenzhen, Guangdong Province, the company leverages structure-based drug design and comprehensive preclinical screening to advance drug candidates that address high-unmet-need cancers.

The company’s development pipeline comprises multiple small-molecule inhibitors in various stages of preclinical and early clinical evaluation.