The stock of Abcam Plc (LON:ABC) hit a new 52-week high and has GBX 1285.60 target or 60.00% above today’s GBX 803.50 share price. The 6 months bullish chart indicates low risk for the GBX 1.61B company. The 1-year high was reported on Sep, 14 by Barchart.com. If the GBX 1285.60 price target is reached, the company will be worth GBX 966.00M 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. The stock increased 1.58% or GBX 12.5 on September 13, hitting GBX 803.5. About 679,853 shares traded hands or 61.82% up from the average. Abcam Plc (LON:ABC) has risen 28.73% since February 15, 2016 and is uptrending. It has outperformed by 12.24% the S&P500.
Out of 6 analysts covering Abcam PLC (LON:ABC), 3 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 50% are positive. GBX 850 is the highest target while GBX 506 is the lowest. The GBX 707.40 average target is -11.96% below today’s (GBX 803.5) stock price. Abcam PLC has been the topic of 27 analyst reports since September 16, 2015 according to StockzIntelligence Inc. JP Morgan maintained the stock on September 13 with “Neutral” rating.
Abcam plc is engaged in producing and marketing protein research tools. The company has a market cap of 1.61 billion GBP.
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