The stock of Ergomed PLC (LON:ERGO) gapped up by GBX 2.8 today and has GBX 148.32 target or 3.00% above today’s GBX 144.00 share price. The 6 months technical chart setup indicates low risk for the GBX 57.21 million company. The gap was reported on Nov, 30 by Barchart.com. If the GBX 148.32 price target is reached, the company will be worth GBX 1.72 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%. The stock increased 3.60% or GBX 5 on November 30, hitting GBX 144. About 89,218 shares traded hands or 247.27% up from the average. Ergomed PLC (LON:ERGO) has declined 1.39% since May 3, 2016 and is downtrending. It has underperformed by 6.62% the S&P500.
Ergomed PLC (LON:ERGO) Ratings Coverage
Out of 3 analysts covering Ergomed (LON:ERGO), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Ergomed has been the topic of 17 analyst reports since September 29, 2015 according to StockzIntelligence Inc. As per Tuesday, November 29, the company rating was maintained by N+1 Singer. The rating was maintained by N+1 Singer with “Buy” on Wednesday, December 16. The firm has “Buy” rating given on Tuesday, November 29 by Numis Securities. N+1 Singer maintained Ergomed PLC (LON:ERGO) on Friday, October 21 with “Buy” rating. The rating was maintained by Numis Securities on Monday, October 17 with “Buy”. As per Monday, February 1, the company rating was maintained by Stifel Nicolaus. The rating was maintained by N+1 Singer with “Buy” on Tuesday, September 29. The stock of Ergomed PLC (LON:ERGO) has “Buy” rating given on Monday, September 26 by N+1 Singer. The company was maintained on Wednesday, October 21 by N+1 Singer. The company was maintained on Friday, September 2 by Stifel Nicolaus.
Ergomed plc is a provider of drug development services to the pharmaceutical industry. The company has a market cap of 57.21 million GBP. The Firm operates through two divisions: clinical research services , and drug safety and medical information services (DS&MI). It has a 31.9 P/E ratio. It provides a range of clinical trial planning, management and monitoring services.
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