Time to Sell Medicure Inc After Today’s Gap Down?

 Time to Sell Medicure Inc After Today's Gap Down?

The stock of Medicure Inc (CVE:MPH) gapped down by $0.02 today and has $4.92 target or 13.00% below today’s $5.65 share price. The 5 months technical chart setup indicates high risk for the $87.61 million company. The gap down was reported on Nov, 3 by Barchart.com. If the $4.92 price target is reached, the company will be worth $11.39 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 10,720 shares traded hands. Medicure Inc (CVE:MPH) has risen 6.00% since October 4, 2016 and is uptrending. It has outperformed by 4.79% the S&P500.

More notable recent Medicure Inc (CVE:MPH) news were published by: Prnewswire.com which released: “Medicure to Announce Q3 2016 Financial Results on November 9, 2016” on November 02, 2016, also Midasletter.com with their article: “S&P/TSX Venture Composite Index Movers: GoldMoney Inc., Medicure Inc …” published on February 02, 2016, Seekingalpha.com published: “Undervalued And Underfollowed; Medicure Is My Favorite Pharma Small Cap” on February 17, 2016. More interesting news about Medicure Inc (CVE:MPH) were released by: Seekingalpha.com and their article: “FDA rejects Medicure’s application for expanded use of Aggrastat” published on July 08, 2016 as well as Prnewswire.com‘s news article titled: “Medicure announces ANDA collaboration with Apicore” with publication date: January 06, 2016.

Medicure Inc. is a pharmaceutical firm engaged in the research, clinical development and commercialization of human therapeutics. The company has a market cap of $87.61 million. The Firm operates in the biopharmaceutical industry segment. It has a 40.68 P/E ratio. The Company’s primary operating focus is on the sale and marketing of its acute care cardiovascular drug, AGGRASTAT (tirofiban hydrochloride) owned by its subsidiary, Medicure International, Inc. and distributed in the United States and its territories through the Company’s United States subsidiary, Medicure Pharma, Inc.

MPH.V Company Profile

Medicure Inc. (Medicure), incorporated on February 23, 2000, is a pharmaceutical firm engaged in the research, clinical development and commercialization of human therapeutics. The Firm operates in the biopharmaceutical industry segment. The Company’s primary operating focus is on the sale and marketing of its acute care cardiovascular drug, AGGRASTAT (tirofiban hydrochloride) owned by its subsidiary, Medicure International, Inc. and distributed in the United States and its territories through the Company’s United States subsidiary, Medicure Pharma, Inc. The Firm is also engaged in the development of TARDOXAL for neurological disorders, such as Tardive Dyskinesia (TD).

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Tags: , ,

Related posts

Leave a Comment