Is Major Move Coming For BioScrip Inc (BIOS) After This Wedge Up Chart Pattern?

September 17, 2017 - By Adrian Mccoy

Investors sentiment decreased to 0.89 in Q4 2016. Its down 0.57, from 1.46 in 2016Q3. It is negative, as 18 investors sold BioScrip Inc shares while 29 reduced holdings. 16 funds opened positions while 26 raised stakes. 91.55 million shares or 0.99% less from 92.47 million shares in 2016Q3 were reported.
Blackrock holds 13,951 shares or 0% of its portfolio. Pioneer Investment Management holds 280,320 shares. Salzhauer Michael owns 14,773 shares. Moreover, Hsbc Public Ltd Company has 0% invested in BioScrip Inc (NASDAQ:BIOS) for 19,372 shares. 13,299 are owned by Paloma Partners. Two Sigma Secs Lc holds 18,986 shares or 0.01% of its portfolio. Tower Rech Cap Ltd Llc (Trc) owns 0% invested in BioScrip Inc (NASDAQ:BIOS) for 4,449 shares. 19,500 are held by Pinnacle Associates Limited. Diamond Hill stated it has 0.03% in BioScrip Inc (NASDAQ:BIOS). Blackrock Invest Limited Liability Company has invested 0% in BioScrip Inc (NASDAQ:BIOS). Parametric Portfolio Limited Liability Co holds 0% in BioScrip Inc (NASDAQ:BIOS) or 199,043 shares. Sei Com holds 0% or 243 shares in its portfolio. Credit Suisse Ag invested in 0% or 48,879 shares. Roanoke Asset holds 0.11% or 227,280 shares. Schwab Charles Mngmt Inc reported 464,478 shares stake.

The stock of BioScrip Inc (BIOS) formed an up wedge with $2.80 target or 5.00 % above today’s $2.67 share price. The 7 months wedge indicates low risk for the $340.36 million company. If the $2.80 price target is reached, the company will be worth $17.02M more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 0.38% or $0.01 on September 15, reaching $2.67. About 1.34 million shares traded. BioScrip Inc (NASDAQ:BIOS) has declined 29.17% since September 17, 2016 and is downtrending. It has underperformed by 45.87% the S&P500.

Investors wait BioScrip Inc (NASDAQ:BIOS) to report on November, 6. its quarterly earnings Wall Street analysts expect $-0.10 EPS, $0.00 or 0.00 % from last year’s $-0.1 same quarter earnings. BioScrip Inc’s Wall Street analysts see -9.09 % EPS growth, taking into account the $-0.11 EPS reproted in the previous quarter,

BioScrip Inc (NASDAQ:BIOS) Ratings Coverage

Among 6 analysts covering BioScrip (NASDAQ:BIOS), 6 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. BioScrip had 10 analyst reports since August 11, 2015 according to SRatingsIntel. The rating was maintained by Jefferies on Thursday, June 8 with “Buy”. The rating was initiated by Lake Street with “Buy” on Tuesday, January 3. The rating was downgraded by SunTrust to “Buy” on Tuesday, August 11. On Tuesday, July 25 the stock rating was maintained by Jefferies with “Buy”. As per Wednesday, August 9, the company rating was maintained by Jefferies. The stock has “Buy” rating by Dougherty & Company on Wednesday, August 12. SunTrust upgraded BioScrip Inc (NASDAQ:BIOS) on Thursday, August 10 to “Buy” rating.

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