Can Cipher Pharmaceuticals Inc’s Tomorrow be Different? The Stock Just Gapped Up

 Can Cipher Pharmaceuticals Inc's Tomorrow be Different? The Stock Just Gapped Up

The stock of Cipher Pharmaceuticals Inc (TSE:CPH) gapped up by $0.01 today and has $4.38 target or 9.00% above today’s $4.02 share price. The 8 months technical chart setup indicates low risk for the $107.55 million company. The gap was reported on Dec, 1 by Barchart.com. If the $4.38 price target is reached, the company will be worth $9.68M 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 39,833 shares traded hands. Cipher Pharmaceuticals Inc (TSE:CPH) has declined 47.44% since April 29, 2016 and is downtrending. It has underperformed by 53.36% the S&P500.

Cipher Pharmaceuticals Inc (TSE:CPH) Ratings Coverage

Out of 2 analysts covering Cipher Pharmaceuticals (TSE:CPH), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Cipher Pharmaceuticals has been the topic of 2 analyst reports since August 12, 2016 according to StockzIntelligence Inc. The firm earned “Hold” rating on Friday, August 12 by GMP Securities. The rating was maintained by TD Securities on Friday, August 12 with “Buy”.

Another recent and important Cipher Pharmaceuticals Inc (TSE:CPH) news was published by Prnewswire.com which published an article titled: “Cipher Pharmaceuticals Inc. Announces Changes to its Board of Directors” on August 09, 2016.

Cipher Pharmaceuticals Inc. is a specialty pharmaceutical dermatology company. The company has a market cap of $107.55 million. The Firm has a portfolio of commercial and late-stage products. It currently has negative earnings. It operates in the specialty pharmaceuticals segment.

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