Noteworthy Price Action: Could Imprimis Pharmaceuticals Inc See a Reversal After Breaking Its 1 Year Low?

Noteworthy Price Action: Could Imprimis Pharmaceuticals Inc See a Reversal After Breaking Its 1 Year Low?

The stock of Imprimis Pharmaceuticals Inc (NASDAQ:IMMY) hit a new 52-week low and has $2.11 target or 12.00% below today’s $2.40 share price. The 8 months bearish chart indicates high risk for the $30.62 million company. The 1-year low was reported on Nov, 21 by Barchart.com. If the $2.11 price target is reached, the company will be worth $3.67M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 35,508 shares traded hands. Imprimis Pharmaceuticals Inc (NASDAQ:IMMY) has declined 41.52% since April 19, 2016 and is downtrending. It has underperformed by 45.38% the S&P500.

According to Zacks Investment Research, “Imprimis Pharmaceuticals, Inc. is a pharmaceutical company focused on its proprietary ophthalmology and urology drug formulations. Imprimis recently launched its urology business, which includes a patented formulation to address patients suffering from interstitial cystitis.”

Insitutional Activity: The institutional sentiment increased to 5.5 in 2016 Q2. Its up 4.30, from 1.2 in 2016Q1. The ratio increased, as 3 funds sold all Imprimis Pharmaceuticals Inc shares owned while 2 reduced positions. 1 funds bought stakes while 5 increased positions. They now own 1.66 million shares or 37.14% less from 2.64 million shares in 2016Q1.
Geode Lc owns 17,570 shares or 0% of their US portfolio. Tower Rech Cap Limited Liability Corp (Trc) accumulated 548 shares or 0% of the stock. Opaleye accumulated 0.98% or 265,000 shares. Blackrock Invest Mgmt Ltd accumulated 1,966 shares or 0% of the stock. The Pennsylvania-based Pnc Serv Grp has invested 0% in Imprimis Pharmaceuticals Inc (NASDAQ:IMMY). Fincl Bank Of America Corporation De owns 17,797 shares or 0% of their US portfolio. Marathon Asset Management L P, a New York-based fund reported 833,333 shares. The Ontario – Canada-based Manufacturers Life Insur The has invested 0% in Imprimis Pharmaceuticals Inc (NASDAQ:IMMY). Moreover, Vanguard Group has 0% invested in Imprimis Pharmaceuticals Inc (NASDAQ:IMMY) for 168,584 shares. Granite Investment Partners Ltd holds 0.05% or 155,190 shares in its portfolio. Blackrock Fund has 32,979 shares for 0% of their US portfolio. Creative Planning has invested 0% of its portfolio in Imprimis Pharmaceuticals Inc (NASDAQ:IMMY). Marathon Cap Mgmt holds 25,000 shares or 0.05% of its portfolio. Northern Tru Corp owns 43,667 shares or 0% of their US portfolio. Berson And Corrado Advsr Llc, a New York-based fund reported 31,107 shares.

More notable recent Imprimis Pharmaceuticals Inc (NASDAQ:IMMY) news were published by: Prnewswire.com which released: “Imprimis Pharmaceuticals Strengthens Senior Leadership Team with Key Hires in …” on August 15, 2016, also Prnewswire.com with their article: “Imprimis Pharmaceuticals Ranked 12 on Deloitte’s 2016 Technology Fast 500 …” published on November 17, 2016, Prnewswire.com published: “Imprimis Pharmaceuticals Announces Availability of Lower-Cost Option for the …” on October 17, 2016. More interesting news about Imprimis Pharmaceuticals Inc (NASDAQ:IMMY) were released by: Prnewswire.com and their article: “Imprimis Pharmaceuticals Registers its New Jersey Facility with the FDA as an …” published on October 28, 2016 as well as Prnewswire.com‘s news article titled: “Imprimis Pharmaceuticals Launches Imprimis Cares Access Network (ICAN) to …” with publication date: September 06, 2016.

IMMY Company Profile

Imprimis Pharmaceuticals, Inc. (Imprimis), incorporated on January 11, 2006, is engaged in the development, production and dispensing of compounded pharmaceuticals. The Firm operates through the business of developing drug therapies and providing such therapies through sterile and non-sterile pharmaceutical compounding services segment. The Company, through its Imprimis Cares program, owns, markets and dispenses a portfolio of compounded therapeutic in several therapeutic areas, including ophthalmology, urology, otolaryngology and infectious diseases. The Firm is also developing Custom Compounding Choice business, which is focused on developing and dispensing a portfolio of non-proprietary compounded drugs for humans and animals in therapeutic areas that may be overlooked by commercial pharmaceutical companies. The Firm also offers customizable compounding products that consist of sterile injectable and non-sterile integrative medicine therapies that are used in various therapeutic areas, including oncology, autoimmunity, chronic infectious diseases and endocrine and metabolic diseases.

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