BioScrip Inc (BIOS) Short Interest Down 16.5% in March

BioScrip Inc (NASDAQ:BIOS) was the recipient of a large decrease in short interest in the month of March. As of March 29th, there was short interest totalling 7,824,735 shares, a decrease of 16.5% from the March 15th total of 9,368,731 shares. Approximately 6.2% of the company’s stock are sold short. Based on an average daily trading volume, of 3,186,166 shares, the days-to-cover ratio is presently 2.5 days.

A number of institutional investors have recently modified their holdings of the business. Squarepoint Ops LLC boosted its holdings in BioScrip by 13.7% in the 4th quarter. Squarepoint Ops LLC now owns 52,389 shares of the company’s stock valued at $187,000 after purchasing an additional 6,303 shares during the period. Virtu Financial LLC lifted its holdings in shares of BioScrip by 60.6% during the 4th quarter. Virtu Financial LLC now owns 18,208 shares of the company’s stock worth $65,000 after acquiring an additional 6,868 shares during the period. Maven Securities LTD bought a new position in shares of BioScrip during the 4th quarter worth about $45,000. Perkins Capital Management Inc. lifted its holdings in shares of BioScrip by 6.5% during the 1st quarter. Perkins Capital Management Inc. now owns 231,000 shares of the company’s stock worth $462,000 after acquiring an additional 14,000 shares during the period. Finally, Caxton Associates LP bought a new position in shares of BioScrip during the 4th quarter worth about $52,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

BIOS has been the topic of several research reports. BidaskClub lowered shares of BioScrip from a “buy” rating to a “hold” rating in a research note on Saturday, January 5th. Stephens lowered shares of BioScrip from an “overweight” rating to an “equal weight” rating and set a $2.51 price objective on the stock. in a research note on Monday, March 18th. Canaccord Genuity dropped their price objective on shares of BioScrip from $5.00 to $3.50 and set a “buy” rating on the stock in a research note on Monday, March 18th. Barrington Research restated a “buy” rating and set a $4.00 price target on shares of BioScrip in a research note on Friday. Finally, TheStreet lowered shares of BioScrip from a “c-” rating to a “d” rating in a research note on Wednesday, April 3rd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $4.70.

Shares of NASDAQ BIOS traded up $0.05 during trading hours on Friday, hitting $1.98. 1,273,307 shares of the stock were exchanged, compared to its average volume of 1,459,573. BioScrip has a one year low of $1.56 and a one year high of $4.14. The company has a market cap of $254.94 million, a P/E ratio of -4.04 and a beta of 0.66.

BioScrip (NASDAQ:BIOS) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The company had revenue of $178.96 million during the quarter, compared to the consensus estimate of $179.23 million. During the same period last year, the company earned ($0.12) earnings per share. BioScrip’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, sell-side analysts anticipate that BioScrip will post -0.25 earnings per share for the current fiscal year.

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About BioScrip

BioScrip, Inc provides infusion and home care management solutions in the United States. It engages in the preparation, delivery, administration, and clinical monitoring of pharmaceutical treatments that are administered to a patient through intravenous, subcutaneous, intramuscular, intra-spinal, and enteral methods.

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