The stock of PharmAthene, Inc. (NYSEMKT:PIP) hit a new 52-week high and has $5.81 target or 91.00% above today’s $3.04 share price. The 6 months bullish chart indicates low risk for the $202.85M company. The 1-year high was reported on Nov, 18 by Barchart.com. If the $5.81 price target is reached, the company will be worth $184.59 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 928,825 shares traded hands or 427.14% up from the average. PharmAthene, Inc. (NYSEMKT:PIP) has risen 25.00% since April 18, 2016 and is uptrending. It has outperformed by 20.57% the S&P500.
According to Zacks Investment Research, “PharmAthene Inc. is a biodefense company formed to meet the critical needs of the United States by developing biodefense products. PharmAthene is dedicated to the rapid development of important and novel biotherapeutics to address biological pathogens and chemicals that may be used as weapons of bioterror. PharmAthene’s lead programs include Valortim and Protexia.”
More news for PharmAthene, Inc. (NYSEMKT:PIP) were recently published by: Marketwatch.com, which released: “PharmAthene Inc.” on January 27, 2010. Prnewswire.com‘s article titled: “PharmAthene Reports Court Approval of SIGA Reorganization Plan to Exit from …” and published on April 13, 2016 is yet another important article.
PIP Company Profile
Pharmathene, Inc. (Pharmathene), incorporated on April 25, 2005, is a biodefense company. The Firm focuses in development of medical counter measures against biological and chemical threats. The Firm is involved in development of two next generation anthrax vaccines. The Company’s anthrax vaccines use recombinant protective antigen (rPA) manufacturing processes.
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