Photocure $PHO.OL stock rally ahead of Q4 report - One to watch
Photocure stock reacted with a heavy (overdone?) correction after the Q3 report, but has recovered nicely in later weeks.
As mentioned in an earlier TradingView analysis (
), NOK 36 and downwards presented a very good buying opportunity, which culminated when the correction bottomed at NOK 32,5 which was a very solid resistance upwards for a long time.
Entry at these levels should probably be done with a keen eye on risk management and new investors may want to wait for the soon to come Q4 2018 report before making a move, but the long term uptrend looks promising, and at a valuation of only 113 million USD this Norwegian microcap could go a long way yet.
Quoting Pengana capital about their position in Photocure:
"Photocure has a current market capitalisation of USD $130 million and we estimate 2018 revenue of USD $25 million which is small compared to the potential US market opportunity valued at $1.3 billion. The company has also had great success in selling its product in Europe, with an 80% penetration in bladder surgery procedures in Scandinavia followed by 30% in Germany."
https://www.raskmedia.com.au/2018/11/20/heres-why-we-own-photocure-asa-phs-stock/
As mentioned in an earlier TradingView analysis (
Entry at these levels should probably be done with a keen eye on risk management and new investors may want to wait for the soon to come Q4 2018 report before making a move, but the long term uptrend looks promising, and at a valuation of only 113 million USD this Norwegian microcap could go a long way yet.
Quoting Pengana capital about their position in Photocure:
"Photocure has a current market capitalisation of USD $130 million and we estimate 2018 revenue of USD $25 million which is small compared to the potential US market opportunity valued at $1.3 billion. The company has also had great success in selling its product in Europe, with an 80% penetration in bladder surgery procedures in Scandinavia followed by 30% in Germany."
https://www.raskmedia.com.au/2018/11/20/heres-why-we-own-photocure-asa-phs-stock/
Trade closed: target reached:
As was somewhat expected, by the traditional habit of biotech selling the news the stock reacted downwards.
