Valeritas Holdings Inc (VLRX) Sees Significant Increase in Short Interest
Valeritas Holdings Inc (NASDAQ:VLRX) was the recipient of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 3,745,529 shares, a growth of 43.4% from the February 15th total of 2,612,523 shares. Currently, 4.9% of the shares of the stock are sold short. Based on an average trading volume of 3,088,515 shares, the short-interest ratio is currently 1.2 days.
Shares of NASDAQ:VLRX opened at $0.39 on Friday. The company has a debt-to-equity ratio of 2.82, a current ratio of 4.47 and a quick ratio of 3.98. The firm has a market capitalization of $9.98 million, a price-to-earnings ratio of -0.23 and a beta of 2.10. Valeritas has a 52-week low of $0.30 and a 52-week high of $4.58.
In other news, major shareholder Armistice Capital Master Fund purchased 150,000 shares of the stock in a transaction dated Thursday, December 20th. The shares were purchased at an average cost of $0.34 per share, with a total value of $51,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.80% of the company’s stock.
Several brokerages have issued reports on VLRX. Zacks Investment Research cut shares of Valeritas from a “buy” rating to a “hold” rating in a research note on Saturday, March 9th. Oppenheimer restated a “buy” rating on shares of Valeritas in a research report on Monday, January 14th. Finally, BTIG Research initiated coverage on shares of Valeritas in a research report on Tuesday, December 4th. They set a “buy” rating and a $1.00 price target on the stock. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $2.10.
Valeritas Company Profile
Valeritas Holdings, Inc, a commercial-stage medical technology company, focuses on the development and commercialization of technologies to treat patients with Type 2 diabetes in the United States and China. It offers V-Go, a wearable insulin delivery device for basal-bolus therapy. The company also develops h-Patch, a controlled delivery technology platform; Mini-Ject technology for needle-free injection systems; and Micro-Trans technology for microneedle design, fabrication, and drug delivery.
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