Medincell Share: €26.76 resistance broken following Portzamparc upgrade
The Montpellier-based biopharmaceutical company continues its rebound in a slightly declining Paris market. The stock ranks among the strongest gainers in its index and extends a recovery initiated since the beginning of the week.
A resistance broken during trading, with a stock well above its moving averages
The stock gains 2.24% to €27.36, while the SBF 120 declines by 0.34%. It has broken through its resistance level of €26.76 during trading and remains above it, at €27.18 in latest trading. This advance extends a gain of 14.96% over the week, which places the price 20% above its 20-day moving average (€22.80) and 10.4% above its 200-day moving average (€24.79).
The RSI at 69 is approaching the overbought zone. The next technical threshold is the resistance at €29.56.
Two target price upgrades in 48 hours, between €31.40 and €36.50
Two brokerage firms have revised their targets upward this week. Portzamparc raises it from €30.00 to €31.40 with a buy rating, an opinion dated today. Stifel raises it from €33.00 to €36.50, also with a buy rating.
These targets are 15% and 33% higher than the current price. According to the consensus of analysts tracked, the stock is trading at approximately 65 times next fiscal year's earnings. Find the detailed analysts' opinions on the stock.
