The stock of Cynapsus Therapeutics Inc (TSE:CTH) hit a new 52-week high and has $76.85 target or 46.00% above today’s $52.64 share price. The 9 months bullish chart indicates low risk for the $649.95 million company. The 1-year high was reported on Sep, 13 by Barchart.com. If the $76.85 price target is reached, the company will be worth $298.98M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 21,028 shares traded hands or 39.50% up from the average. Cynapsus Therapeutics Inc (TSE:CTH) has risen 190.06% since February 10, 2016 and is uptrending. It has outperformed by 173.57% the S&P500.
Cynapsus Therapeutics Inc is a Canada specialty central nervous system pharmaceutical company. The company has a market cap of $649.95 million. It develops a sublingual thin film for the potential treatment for on-demand management of debilitating OFF episodes associated with Parkinson’s disease (PD). It currently has negative earnings. The Firm completed a Phase two clinical trial for its product candidate, APL-130277, a sublingual formulation of apomorphine hydrochloride, or apomorphine.
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