After Today’s Gap Up, Is Evgen Pharma PLC’s Near-Term Analysis Positive

 After Today's Gap Up, Is Evgen Pharma PLC's Near Term Analysis Positive

The stock of Evgen Pharma PLC (LON:EVG) gapped up by GBX 0.25 today and has GBX 27.76 target or 8.00% above today’s GBX 25.70 share price. The 7 months technical chart setup indicates low risk for the GBX 18.64M company. The gap was reported on Nov, 30 by Barchart.com. If the GBX 27.76 price target is reached, the company will be worth GBX 1.49M 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%. The stock increased 4.90% or GBX 1.2 on November 30, hitting GBX 25.7. About 7,811 shares traded hands. Evgen Pharma PLC (LON:EVG) has risen 20.99% since May 3, 2016 and is uptrending. It has outperformed by 15.76% the S&P500.

Evgen Pharma PLC (LON:EVG) Ratings Coverage

Out of 2 analysts covering Evgen Pharma Plc (LON:EVG), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Evgen Pharma Plc has been the topic of 20 analyst reports since October 26, 2015 according to StockzIntelligence Inc. Northland Capital maintained the stock with “Buy” rating in Wednesday, March 2 report. Beaufort Securities maintained the stock with “Speculative Buy” rating in Tuesday, December 8 report. Northland Capital maintained the shares of EVG in a report on Monday, December 7 with “Buy” rating. Northland Capital maintained the stock with “Buy” rating in Thursday, August 25 report. The rating was maintained by Northland Capital on Wednesday, January 6 with “Buy”. The firm has “Speculative Buy” rating given on Tuesday, November 24 by Beaufort Securities. Beaufort Securities maintained the stock with “Speculative Buy” rating in Wednesday, May 4 report. The stock has “Speculative Buy” rating given by Beaufort Securities on Tuesday, January 5. The stock of Evgen Pharma PLC (LON:EVG) has “Buy” rating given on Friday, September 9 by Northland Capital. The firm earned “Buy” rating on Tuesday, May 31 by Northland Capital.

Another recent and important Evgen Pharma PLC (LON:EVG) news was published by Reuters.com which published an article titled: “BRIEF-Evgen Pharma granted orphan drug designation for stabilised sulforap…” on August 24, 2016.

Evgen Pharma plc is a clinical-stage drug development firm focused on cancer and neurological disease. The company has a market cap of 18.64 million GBP. The Firm operates through the segment of development of pharmaceutical products all within the United Kingdom. It currently has negative earnings. The Company’s pipeline is based on its Sulforadex technology and includes various synthetic, stabilized analogues of the naturally occurring compound sulforaphane.

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