The stock of AEterna Zentaris Inc. (TSE:AEZ) gapped up by $0.01 today and has $7.05 target or 55.00% above today’s $4.55 share price. The 8 months technical chart setup indicates low risk for the $43.17 million company. The gap was reported on Nov, 9 by Barchart.com. If the $7.05 price target is reached, the company will be worth $23.74 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 41,241 shares traded hands. AEterna Zentaris Inc. (TSE:AEZ) has declined 1.12% since April 5, 2016 and is downtrending. It has underperformed by 5.91% the S&P500.
Another recent and important AEterna Zentaris Inc. (TSE:AEZ) news was published by Businesswire.com which published an article titled: “Aeterna Zentaris Announces Closing of US$7560000 Registered Direct Offering of …” on November 01, 2016.
Aeterna Zentaris Inc. is a specialty biopharmaceutical firm engaged in developing and commercializing treatments in oncology, endocrinology and women’s health. The company has a market cap of $43.17 million. The Firm operates through the biopharmaceutical segment. It currently has negative earnings. The Firm is engaged in drug development activities and in the promotion of products for others.
AEZ.TO Company Profile
Aeterna Zentaris Inc., incorporated on October 12, 1990, is a specialty biopharmaceutical firm engaged in developing and commercializing treatments in oncology, endocrinology and women’s health. The Firm operates through the biopharmaceutical segment. The Firm is engaged in drug development activities and in the promotion of products for others. The Company’s principal product candidates are Zoptrex (zoptarelin doxorubicin) and Macrilen (macimorelin) in oncology and endocrinology. The Firm focuses on its product candidates Zoptrex and Macrilen, which are in Phase III clinical development, and on a luteinizing hormone-releasing hormone (LHRH)-disorazol Z conjugate (AEZS-138), which is in pre-clinical development in oncology and is available for partnering. The Company’s direct and indirect subsidiaries include AEZS GmbH, Zentaris IVF GmbH and Aeterna Zentaris, Inc.
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