Cumberland Pharmaceuticals, Inc. (NASDAQ:CPIX) was the recipient of a significant increase in short interest in September. As of September 15th, there was short interest totalling 91,100 shares, an increase of 5.1% from the August 15th total of 86,700 shares. Currently, 1.0% of the shares of the stock are sold short. Based on an average daily volume of 31,100 shares, the days-to-cover ratio is presently 2.9 days.
NASDAQ CPIX traded up $0.34 on Monday, hitting $5.98. 428 shares of the stock were exchanged, compared to its average volume of 51,617. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.85 and a current ratio of 2.33. The stock has a fifty day moving average price of $5.29 and a two-hundred day moving average price of $5.83. The firm has a market capitalization of $78.54 million, a P/E ratio of -49.83 and a beta of 0.15. Cumberland Pharmaceuticals has a 52-week low of $4.70 and a 52-week high of $7.00.
Cumberland Pharmaceuticals (NASDAQ:CPIX) last posted its quarterly earnings data on Wednesday, August 14th. The specialty pharmaceutical company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.05 by $0.02. The company had revenue of $11.58 million during the quarter, compared to analyst estimates of $12.59 million. Cumberland Pharmaceuticals had a negative net margin of 9.87% and a positive return on equity of 5.04%. Sell-side analysts expect that Cumberland Pharmaceuticals will post 0.31 earnings per share for the current fiscal year.
In related news, Director Gordon R. Bernard sold 7,471 shares of the firm’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $5.77, for a total value of $43,107.67. Following the completion of the transaction, the director now directly owns 59,673 shares of the company’s stock, valued at $344,313.21. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Gordon R. Bernard sold 6,309 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $5.46, for a total transaction of $34,447.14. Following the completion of the transaction, the director now directly owns 41,862 shares of the company’s stock, valued at $228,566.52. The disclosure for this sale can be found here. Over the last three months, insiders purchased 6,449 shares of company stock valued at $37,949 and sold 46,401 shares valued at $255,916. Company insiders own 39.38% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of CPIX. Bailard Inc. purchased a new position in Cumberland Pharmaceuticals during the second quarter worth $92,000. Acadian Asset Management LLC boosted its stake in Cumberland Pharmaceuticals by 6.9% during the second quarter. Acadian Asset Management LLC now owns 104,498 shares of the specialty pharmaceutical company’s stock worth $665,000 after buying an additional 6,765 shares during the period. Renaissance Technologies LLC boosted its stake in Cumberland Pharmaceuticals by 13.0% during the second quarter. Renaissance Technologies LLC now owns 441,577 shares of the specialty pharmaceutical company’s stock worth $2,813,000 after buying an additional 50,800 shares during the period. Finally, BlackRock Inc. boosted its stake in Cumberland Pharmaceuticals by 17.2% during the second quarter. BlackRock Inc. now owns 332,543 shares of the specialty pharmaceutical company’s stock worth $2,118,000 after buying an additional 48,753 shares during the period. 31.03% of the stock is owned by institutional investors.
CPIX has been the subject of a number of recent research reports. ValuEngine lowered shares of Cumberland Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, September 10th. Zacks Investment Research raised shares of Cumberland Pharmaceuticals from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a report on Wednesday, August 21st.
About Cumberland Pharmaceuticals
Cumberland Pharmaceuticals Inc, a specialty pharmaceutical company, focuses on the acquisition, development, and commercialization of prescription products for hospital acute care, gastroenterology, and oncology markets in the United States and internationally. It offers Acetadote, an injection for the treatment of acetaminophen poisoning; Caldolor, an injection for the treatment of pain and fever; Kristalose, a prescription laxative, for the treatment of chronic and acute constipation; Omeclamox-Pak for the treatment of Helicobacter pylori infection and duodenal ulcer disease; Vaprisol injection for treating hyponatremia; Ethyol injection for the reduction of xerostomia; Totect injection, for emergency oncology intervention, to treat the toxic effects of anthracycline chemotherapy; and Vibativ injection, for the treatment of certain serious bacterial infections.
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