Published On: Sat, Sep 17th, 2016

Merus Labs International Inc. (MSLI) Sees Significant Decline in Short Interest

Merus Labs International Inc. (NASDAQ:MSLI) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 975,044 shares, a decline of 50.6% from the August 15th total of 1,974,838 shares. Based on an average daily volume of 47,044 shares, the days-to-cover ratio is presently 20.7 days. Currently, 0.9% of the company’s stock are short sold.
Merus Labs International (NASDAQ:MSLI) opened at 1.00 on Friday. Merus Labs International has a 12 month low of $0.92 and a 12 month high of $1.90. The firm has a 50-day moving average price of $1.09 and a 200-day moving average price of $1.31. The stock’s market cap is $117.00 million.
Merus Labs International (NASDAQ:MSLI) last released its earnings results on Monday, August 15th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.03. Merus Labs International had a negative return on equity of 3.41% and a negative net margin of 12.89%. Equities research analysts expect that Merus Labs International will post ($0.07) earnings per share for the current fiscal year.

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Several research firms have recently issued reports on MSLI. TheStreet lowered Merus Labs International from a “hold” rating to a “sell” rating in a research report on Friday, June 3rd. Zacks Investment Research raised Merus Labs International from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 14th. Guggenheim reaffirmed a “buy” rating on shares of Merus Labs International in a research report on Monday, June 13th. Citigroup Inc. reaffirmed a “buy” rating and issued a $14.00 price target on shares of Merus Labs International in a research report on Monday, June 13th. Finally, Canaccord Genuity reaffirmed a “buy” rating on shares of Merus Labs International in a research report on Friday, August 12th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $4.61.
Hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC raised its stake in Merus Labs International by 155.3% in the first quarter. Acadian Asset Management LLC now owns 3,160,182 shares of the company’s stock worth $4,736,000 after buying an additional 1,922,282 shares during the last quarter. 1832 Asset Management L.P. raised its stake in Merus Labs International by 6.9% in the first quarter. 1832 Asset Management L.P. now owns 9,767,818 shares of the company’s stock worth $23,969,000 after buying an additional 627,200 shares during the last quarter. I.G. Investment Management LTD. raised its stake in Merus Labs International by 58.9% in the second quarter. I.G. Investment Management LTD. now owns 1,655,500 shares of the company’s stock worth $2,115,000 after buying an additional 613,500 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its stake in Merus Labs International by 68.4% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 1,352,981 shares of the company’s stock worth $2,232,000 after buying an additional 549,530 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in Merus Labs International by 173.2% in the second quarter. Royal Bank of Canada now owns 373,285 shares of the company’s stock worth $477,000 after buying an additional 236,631 shares during the last quarter. Institutional investors and hedge funds own 25.73% of the company’s stock.
About Merus Labs International
Merus Labs International Inc (Merus) is a specialty pharmaceutical company. The Company is engaged in the acquisition and licensing of branded prescription pharmaceutical products in Canada and internationally. It carries out business principally in Canada and Europe. The Company has products in the area of urology/women’s health and anti-infectives.

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