Idorsia Ltd (OTCMKTS:IDRSF) Short Interest Up 9.7% in August

Idorsia Ltd (OTCMKTS:IDRSF) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 10,313,000 shares, an increase of 9.7% from the August 15th total of 9,401,800 shares. Based on an average daily trading volume, of 1,300 shares, the days-to-cover ratio is currently 7,933.1 days.

Idorsia Price Performance

IDRSF remained flat at $4.40 on Tuesday. The stock’s 50 day simple moving average is $6.77 and its 200 day simple moving average is $8.89. Idorsia has a 12 month low of $4.30 and a 12 month high of $19.14.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Morgan Stanley assumed coverage on Idorsia in a report on Thursday, June 22nd. They set an “underweight” rating for the company. Citigroup assumed coverage on Idorsia in a report on Thursday, July 6th. They set a “sell” rating for the company. Four investment analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $18.00.

About Idorsia

Idorsia Ltd, a biopharmaceutical company, engages in the discovery, development, and commercialization of drugs for unmet medical needs in Switzerland. The company has a clinical development pipeline that cover various therapeutic areas, including CNS, cardiovascular, and immunological disorders, as well as orphan diseases.