Theraclion shares jump 11% to a one-month high after a favorable opinion on a device
The medtech stock posts a sharp gain during the session, against the grain of a Paris market in decline. The move follows a favorable analyst opinion published this Friday, after the company obtained authorization in Saudi Arabia for its device.
Target raised to €2 by TP Icap Midcap, with a buy rating
The broker TP Icap Midcap raises its price target to €2.00, from €1.70 previously, and maintains a buy rating on Theraclion. Based on the share price of €0.80, the new target implies an upside potential of about 150%. The research firm had initiated coverage at the end of October with a target price of €1.70.
The upgrade comes a few days after the announcement of the approval from the Saudi Food and Drug Authority for Sonovein, granted on October 28 and announced by the company on November 3. The stock gained 11.27% during the session and 8.11% over one week. For reference, the analyst consensus is available on our website.
A €0.75 level reclaimed, RSI at 67 and resistance at €0.83
The stock has reclaimed its highest level of the last 30 sessions, at €0.75, which has now become support. The share price is currently 23% above the MM20 (€0.65) and 29% above the MM200 (€0.62).
The RSI at 67 remains below the overbought zone, leaving room for the movement to continue before reaching it.
The next obstacle is resistance at €0.83, a few cents above the current price. This rise contrasts with the broader market: the CAC 40 is down 1.64% and the SBF 120 is down 1.65%, following a decline on Wall Street on Thursday. Over three months, the stock shows a gain of 31%.
