BioScrip Inc (NASDAQ:BIOS) was the target of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 9,810,000 shares, an increase of 19.2% from the August 30th total of 8,230,000 shares. Based on an average trading volume of 1,150,000 shares, the short-interest ratio is currently 8.5 days. Approximately 7.5% of the company’s shares are short sold.
Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of Montreal Can bought a new stake in shares of BioScrip during the 2nd quarter valued at about $27,000. Jane Street Group LLC bought a new stake in shares of BioScrip during the 2nd quarter valued at about $30,000. North Star Investment Management Corp. bought a new stake in shares of BioScrip during the 3rd quarter valued at about $64,000. JPMorgan Chase & Co. boosted its stake in shares of BioScrip by 11.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 36,469 shares of the company’s stock valued at $89,000 after purchasing an additional 3,683 shares in the last quarter. Finally, Marathon Capital Management boosted its stake in shares of BioScrip by 9.9% during the 2nd quarter. Marathon Capital Management now owns 47,245 shares of the company’s stock valued at $122,000 after purchasing an additional 4,250 shares in the last quarter. 77.54% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BIOS traded up $0.02 during trading hours on Tuesday, reaching $3.41. 7,735 shares of the company traded hands, compared to its average volume of 1,327,236. The company’s fifty day moving average price is $3.40 and its two-hundred day moving average price is $2.60. The company has a market capitalization of $437.92 million, a price-to-earnings ratio of -6.93 and a beta of 0.45. BioScrip has a 12 month low of $1.56 and a 12 month high of $4.14.
BioScrip (NASDAQ:BIOS) last announced its earnings results on Tuesday, July 30th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.04). The firm had revenue of $191.52 million for the quarter, compared to analysts’ expectations of $185.73 million. Equities analysts anticipate that BioScrip will post -0.18 earnings per share for the current fiscal year.
A number of brokerages have issued reports on BIOS. Canaccord Genuity raised their price target on shares of BioScrip from $3.50 to $4.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. BidaskClub lowered shares of BioScrip from a “strong-buy” rating to a “buy” rating in a report on Friday, September 27th. Zacks Investment Research raised shares of BioScrip from a “hold” rating to a “buy” rating and set a $3.00 price target on the stock in a report on Thursday, June 20th. ValuEngine raised shares of BioScrip from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, SunTrust Banks raised their price target on shares of BioScrip from $3.25 to $4.25 and gave the stock a “buy” rating in a report on Friday, September 20th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $4.63.
BioScrip, Inc provides infusion and home care management solutions in the United States. It engages in the preparation, delivery, administration, and clinical monitoring of pharmaceutical treatments that are administered to a patient through intravenous, subcutaneous, intramuscular, intra-spinal, and enteral methods.
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