The stock of Theratechnologies Inc (TSE:TH) gapped up by $0.04 today and has $7.45 target or 119.00% above today’s $3.40 share price. The 6 months technical chart setup indicates low risk for the $239.58M company. The gap was reported on Nov, 10 by Barchart.com. If the $7.45 price target is reached, the company will be worth $285.10M 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 63,565 shares traded hands. Theratechnologies Inc (TSE:TH) has risen 54.73% since April 6, 2016 and is uptrending. It has outperformed by 49.08% the S&P500.
More recent Theratechnologies Inc (TSE:TH) news were published by: Reuters.com which released: “BRIEF-Theratechnologies Inc Q3 EPS C$0.01” on October 04, 2016. Also Marketwatch.com published the news titled: “Theratechnologies Inc.” on April 24, 2011. Marketwired.com‘s news article titled: “Theratechnologies Inc.: Mexico Approves the 1mg/vial Presentation of EGRIFTA(R …” with publication date: March 08, 2016 was also an interesting one.
Theratechnologies Inc. is a Canada-based specialty pharmaceutical company. The company has a market cap of $239.58 million. The Firm addresses medical needs in metabolic disorders to promote healthy ageing among human immunodeficiency virus patients. It has a 311.93 P/E ratio. The Company’s product, EGRIFTA (tesamorelin for injection), is used for the reduction of excess abdominal fat in HIV-infected patients with lipodystrophy.
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