Short positions in Pharmamar rise after the lack of arrival of phase three of Aplidin and in line with the declines in value
Bets against Pharmamar rise to 1.13% of capital, according to the records of the National Securities Market Commission ( CNMV ). The largest bearish position is for Great Point with 0.62% of the shares and that of Point72 Asset Management rises to 0.51%.
The shorts are on the rise if one takes into account that Great Point went from 0.53% in July to 0.62% today when estimating new falls due to the lack of arrival of phase three of Aplidin and the appearance of vaccines against the Covid-19 .
For the moment, the price agrees with the bears since the value loses 20% in the month and more than 25% in the last two weeks, what it has gained in the last two months.
Bass specialists in the sector.Both firms are from the United States and are specialized in aggressively short positions on pharmaceutical sector stocks , both in classical companies and in biopharmaceuticals.
Behind Point72 is billionaire Steve Cohen and his family where he also manages the bets of his own employees.
For its part, Great Point also manages public or private capital with management, strategy and advisory services.
Pharmamar’s poor stock market performance is not only reflected in its bearish positions, but also in the vision of analysts who cover the Spanish ‘biotech’.
Just three months ago, the market consensus consulted by Bloomberg gave its full support to José María Fernández Sousa’s company with a vast majority of “buy” recommendations.
Now, the percentage of recommendations to “buy” and “hold” are the same as 40% and those to “sell” add up to 20%.
The collection of profits by investors has caused the market consensus target price to now offer the value a 34% revaluation potential by setting it at 123 euros and trading at 92 euros.
Vaccines impact Pharmamar.The ads for Pfizer and Moderna , now joined by those for Astrazeneca and Oxford , were a severe blow to the company’s stocks .
The early arrival of this remedy against Covid-19 , rather than an antiviral, causes investors to discount a lower penetration of Aplidin in the market.
From the company they insist that they were counting on the arrival of the vaccine and do not believe that they have great potential because they will be able to continue treating those already infected .
In this way, they give an example of influenza as a virus that needs a large number of drugs each year despite vaccination campaigns.
The market awaits the Aplidin.Despite this, investors are still waiting for the final communication of delivery of protocols to the health authorities for the implementation of phase three of Aplicov , the study of the effects of Aplidin against the coronavirus.
Finance.com announced that the company was waiting to include in the statistics the data of the latest expansion of patients and that the protocols and strategy were practically closed.
The estimates of Pharmamar happen, as also advanced finances.com , to obtain the fast approval of the American FDA and the Spanish Agency of Medicines and Health Products ( AEMPS ). In addition, they contemplate entry into France and Italy .
Without great shocks for the price.The market now has little news about the company after knowing the results until September, which were the best in its history, earning 131 million euros, and confirming the stabilization of income and sales.
The Galician continues to announce license extensions for its oldest drug in the portfolio, Yondelis , and contemplates new markets for Zepzelca , in the hands of its partner in the United States Jazz Pharmaceutica l.
Furthermore, it is studying the application of both drugs against white tissue sarcomas and has detected a “promising” antitumor activity of Zepzcelca against the synovial subtype, indicating “high efficacy”, which will expand the cohort of patients .
If this study progresses, still in phase Ib-II, it could extend the agreement with Jazz to exceed the 1 billion revenue initially agreed for the Spanish company.