ProMetic Life Sciences Inc.’s Stock Is Buy After Today’s Gap
The stock of ProMetic Life Sciences Inc. (TSE:PLI) gapped up by $0.01 today and has $3.93 target or 26.00% above todays $3.12 share price. The 6 months technical chart setup indicates low risk for the $1.81B company. The gap was reported on Nov, 25 by Barchart.com. If the $3.93 price target is reached, the company will be worth $470.60M more. Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock is up 5.76% or $0.17 after the news, hitting $3.12 per share. About 1.66 million shares traded hands or 11.41% up from the average. ProMetic Life Sciences Inc. (TSE:PLI) has risen 15.23% since April 22, 2015 and is uptrending. It has outperformed by 16.36% the S&P500. Out of 3 analysts covering ProMetic Life Sciences Inc. (TSE:PLI), 3 rate it Buy, 0 Sell, while 0 Hold. This means 100% are positive. $4 is the highest target while $3 is the lowest. The $3.56 average target is 14.10% above todays ($3.12) stock price. ProMetic Life Sciences Inc. was the topic in 5 analyst reports since August 10, 2015 according to StockzIntelligence Inc. ProMetic Life Sciences Inc. is a Canada biopharmaceutical company. The company has a market cap of $1.81 billion. The Firm offers solutions in bioseparations, plasma-derived therapeutics and small-molecule drug development. It currently has negative earnings. ProMetic offers its technologies for large-scale purification of biologics, drug development, proteomics and the elimination of pathogens. ProMetic Life Sciences Inc. Receive News & Ratings Via Email Enter your email address below to receive a concise daily summary of the latest news and analysts ratings with MarketBeat.coms FREE daily email newsletter.