Imprimis Pharmaceuticals Inc (IMMY) Stock Soars on Alternative Prescription Drug to Turing’s Daraprim

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While Martin Shkreli and Turing Pharmaceuticals Daraprim drug has been getting a lot of attention for all the wrong reasons, Imprimis Pharmaceuticals Inc (NASDAQ:IMMY) seems to have found a solution.

Imprimis has created an alternative custom made drug which is almost identical to Daraprim, but instead of costing $750 per pill, costs just 99 cents. According to Imprimis CEO Mark Baum, orders of their new drug are pouring in.

Imprimis Pharmaceuticals (IMMY) stock increased 15.72% or $1 on November 27, hitting $7.36. About 147,640 shares traded hands. IMMY has declined 7.65% since April 27, 2015 and is downtrending. It has underperformed by 6.29% the S&P500.

The institutional sentiment decreased to 0.75 in Q2 2015. Its down 0.75, from 1.5 in 2015Q1. The ratio fall, as 2 funds sold all Imprimis Pharmaceuticals Inc shares owned while 6 reduced positions. 2 funds bought stakes while 4 increased positions. They now own 1.62 million shares or 42.25% more from 1.14 million shares in 2015Q1.

Opaleye Management Inc. holds 3.9% of its portfolio in Imprimis Pharmaceuticals Inc for 1.21 million shares. Granite Investment Partners Llc owns 129,627 shares or 0.1% of their US portfolio. Moreover, Marathon Capital Management has 0.09% invested in the company for 25,000 shares. The Massachusetts-based Granite Point Capital Management L.P. has invested 0.05% in the stock. Financial Architects Inc, a New Jersey-based fund reported 4,000 shares.

Since May 20, 2015, the stock had 1 insider buy, and 0 insider sales for $276,500 net activity. Opaleye Management Inc. bought 35,000 shares worth $276,500. Miloni Donald Paul sold 410,000 shares worth $3.28 million.

Imprimis Pharmaceuticals, Inc. is a pharmaceutical company. The company has a market cap of $61.58 million. The Firm focuses on developing and commercializing compounded drug therapies and making these therapies available to physicians and patients. It currently has negative earnings. It owns, markets and sells a portfolio of combination formulations in ophthalmology and urology.

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