Below are the top five companies in the Pharmaceuticals industry as measured by the short interest ratio. A higher short interest ratio may indicate the potential for a sizeable short squeeze.
Cadence Pharmaceuticals (NASDAQ:CADX) has a short interest ratio of 31.4 based on average daily volume of 239,000 shares and 7.5 million shares short. That equates to 14.9% of the 50.5 million shares outstanding.
Dr Reddys Laboratories (NYSE:RDY) has a short interest ratio of 19.3 based on average daily volume of 494,000 shares and 9.5 million shares short. That equates to 5.6% of the 168.9 million shares outstanding.
Optimer Pharmaceuticals (NASDAQ:OPTR) has a short interest ratio of 17.7 based on average daily volume of 175,000 shares and 3.1 million shares short. That equates to 8.1% of the 38.2 million shares outstanding.
Durect (NASDAQ:DRRX) has a short interest ratio of 17 based on average daily volume of 209,000 shares and 3.6 million shares short. That equates to 4.1% of the 86.8 million shares outstanding.
Pain Therapeutics (NASDAQ:PTIE) has a short interest ratio of 15.9 based on average daily volume of 135,000 shares and 2.2 million shares short. That equates to 5% of the 42.6 million shares outstanding.
SmarTrend is bearish on shares of OPTR and our subscribers were alerted to Sell on April 01, 2010 at $12.01. The stock has fallen 17.9% since the alert was issued.