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

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

InnoCare Pharma Stock Performance

INCPF stock remained flat at $1.55 during mid-day trading on Friday. The firm has a fifty day moving average price of $1.55 and a 200 day moving average price of $1.79. InnoCare Pharma has a 1 year low of $1.55 and a 1 year high of $2.31.

Analysts Set New Price Targets

Separately, Morgan Stanley raised shares of InnoCare Pharma to an “overweight” rating in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently 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.