What’s in Clinuvel Pharmaceuticals Limited After Reaching 52-Week High?


 What's in Clinuvel Pharmaceuticals Limited After Reaching 52 Week High?

The stock of Clinuvel Pharmaceuticals Limited (ASX:CUV) hit a new 52-week high and has $18.13 target or 162.00% above today’s $6.92 share price. The 9 months bullish chart indicates low risk for the $330.26M company. The 1-year high was reported on Oct, 19 by Barchart.com. If the $18.13 price target is reached, the company will be worth $535.02M 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 decreased 0.57% or $0.04 on October 19, hitting $6.92. About 77,469 shares traded hands or 209.26% up from the average. Clinuvel Pharmaceuticals Limited (ASX:CUV) has risen 66.35% since March 23, 2016 and is uptrending. It has outperformed by 60.80% the S&P500.

More important recent Clinuvel Pharmaceuticals Limited (ASX:CUV) news were published by: Businesswire.com which released: “SurModics Signs License Agreement with Clinuvel Pharmaceuticals” on July 07, 2010, also Globenewswire.com published article titled: “Clinuvel to file new drug with FDA”, Seekingalpha.com published: “Scenesse Approval Increases Clinuvel’s Credibility” on October 24, 2014. More interesting news about Clinuvel Pharmaceuticals Limited (ASX:CUV) was released by: Fool.com.Au and their article: “Here’s why these 4 shares crashed on the market today” with publication date: March 07, 2016.

Clinuvel Pharmaceuticals Limited is an Australian biopharmaceutical firm focused on developing drugs for the treatment of a range of severe skin disorders. The company has a market cap of $330.26 million. The Company’s focus is to develop and commercialize SCENESSE as a medicinal photoprotective solution for patients who are most severely affected by ambient light exposure and UV. It currently has negative earnings. The Company’s lead compound, SCENESSE (afamelanotide), a drug targeting erythropoietic protoporphyria (EPP), has completed Phase II and III trials in the United States, Europe and Australia.

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