Buy Glenmark Pharma With Stop Loss Below Rs 375
Technical analyst Parsh Zaveri of Zaveri Investments has maintained 'buy' rating on Glenmark Pharmaceutical Limited stock with a 3-5 day target of Rs 400.
According to analyst, the stock can be purchased with a stop loss of Rs 375.
The stock of the company, on Dec 06, closed at Rs 381.95 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 387 and a low of Rs 230 on BSE.
Current EPS & P/E ratio stood at 17.18 and 22.39 respectively.
Glenmark Generics and Lehigh Valley Technologies (LVT) have mutually declared the sanction of two New Drugs Applications (NDAs) by the USFDA.
The sanctioned Oxycodone line of products comprises a 5 mg capsule and 100 mg / 5mL oral solution.
The two okayed NDAs offer Glenmark and LVT with production and selling rights to the only FDA sanctioned Oxycodone instant capsules and oral solution presently available in the US market.
According to IMS Health data, the overall market sales of Oxycodone Hydrochloride oral solid capsule and liquid formulations for the year ended September 2010 stood at $13 million.