Synageva Biopharma (GEVA) is the Chart of the Day. The biopharmceutical company just had an additional stock offering and looks like a long term play. The stock has Trend Spotter buy and is up 57.60% in the last 6 months.
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The Chart of the Day is Synageva Biopharma (GEVA). I found the stock by sorting the New High List for frequency. Since analysts predict short term losses in both revenue and earnings this is a long term play. The stock has both a Trend Spotter buy and 96% technical buy signals.
It is a biopharmaceutical company focused on the discovery, development, and commercialization of therapeutic products for patients with life-threatening rare diseases and unmet medical need. Its SBC-102 is an enzyme replacement therapy for Lysosomal Acid Lipase Deficiency, a lysosomal storage disorder.
Barchart technical indicators:
- 96% Barchart technical buy signals
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 18 new highs and up 42.87% in the last month
- Relative Strength Index 86.84%
- Barchart computes a technical support level at 67.19
- Recently traded at 68.98 with a 50 day moving average of 51.60
Fundamental factors:
- Market Cap $1.88 billion
- Revenue and earnings projections are down for the short run
- In spite of this Wall Street analysts issued 3 strong buy 2 buy and 2 hold recommendations
- Financial strength is B+
This is a pure technical play since revenue and earnings are not projected to grow in the short run. Analyst look for the new stock offering to be used for development of a pipeline of new drugs. Since this is a long term technical play use the 100 day moving average as your exit points
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