Upgrade Alert for Pharmacyclics (PCYC)
Pharmacyclics (NASDAQ:PCYC) was upgraded from Neutral to Buy at Lazard Capital today. The stock closed yesterday at $118.97 on volume of 749,000 shares, above average daily volume of 555,000.
Pharmacyclics (NASDAQ:PCYC) is currently priced 12.0% above its average consensus analyst price target of $104.67. The stock should find initial support at its 50-day moving average (MA) of $104.48 and further support at its 200-day MA of $82.57.
Over the past year, Pharmacyclics has traded in a range of $44.91 to $119.77 and closed yesterday at $118.97, 165% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.8% while the 50-day MA has advanced 1.4%.
Pharmacyclics, Inc. is a pharmaceutical company developing products to improve upon current therapeutic approaches to cancer, atherosclerosis, and retinal disease. The Company's products are patented agents derived from its technology platform for designing and synthesizing energy-potentiating drugs.
SmarTrend recommended that subscribers consider buying shares of Pharmacyclics on July 9th, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $88.68. Since that recommendation, shares of Pharmacyclics have risen 34.2%. We continue to monitor PCYC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades pharmacyclics