Short Interest in Theratechnologies Inc. (NASDAQ:THTX) Declines By 22.7%

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Theratechnologies Inc. (NASDAQ:THTX) was the target of a large drop in short interest in March. As of March 13th, there was short interest totalling 1,074,600 shares, a drop of 22.7% from the February 27th total of 1,390,000 shares. Based on an average daily volume of 140,900 shares, the short-interest ratio is currently 7.6 days. Approximately 1.4% of the shares of the stock are short sold.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE purchased a new stake in Theratechnologies in the 4th quarter worth approximately $31,000. Royce & Associates LP purchased a new position in shares of Theratechnologies during the 4th quarter worth $33,000. Swaine & Leidel Wealth Services LLC purchased a new position in shares of Theratechnologies during the 4th quarter worth $34,000. Parsec Financial Management Inc. acquired a new stake in shares of Theratechnologies during the fourth quarter worth $39,000. Finally, Intl Fcstone Inc. acquired a new stake in shares of Theratechnologies during the fourth quarter worth $46,000. 6.83% of the stock is currently owned by institutional investors and hedge funds.

Shares of THTX stock opened at $1.61 on Friday. The firm has a market cap of $131.59 million, a P/E ratio of -10.06 and a beta of 0.66. The company has a quick ratio of 1.49, a current ratio of 2.05 and a debt-to-equity ratio of 2.23. The company has a 50-day moving average price of $2.43. Theratechnologies has a twelve month low of $1.33 and a twelve month high of $6.68.

Theratechnologies (NASDAQ:THTX) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.02). The firm had revenue of $16.40 million for the quarter, compared to analyst estimates of $16.48 million. Theratechnologies had a negative return on equity of 37.48% and a negative net margin of 19.77%. On average, sell-side analysts predict that Theratechnologies will post 0.05 EPS for the current year.

THTX has been the subject of several research reports. Mackie restated a “buy” rating and set a $5.80 price objective on shares of Theratechnologies in a research report on Tuesday, February 25th. ValuEngine upgraded Theratechnologies from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Canaccord Genuity reissued a “buy” rating and set a $95.50 price target on shares of Theratechnologies in a research report on Tuesday, March 3rd. Finally, Zacks Investment Research cut Theratechnologies from a “hold” rating to a “strong sell” rating in a report on Saturday, February 29th.

Theratechnologies Company Profile

Theratechnologies Inc, a specialty pharmaceutical company, addresses unmet medical needs to promote healthy living and improve quality of life among HIV patients. It offers EGRIFTA, for the reduction of excess abdominal fat in HIV-infected patients with lipodystrophy in Canada and the United States; and Trogarz, an injection refers to ibalizumab for the treatment of multidrug resistant HIV-1 infected patients in the United States.

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