Expert Says Biotech Co. Is a 'Strong Buy' After Phase 2 Study
Source: Clive Maund
August 3, 2022 (Investorideas.com Newswire) Expert Clive Maund gives his assessment of biotech Algernon Pharmaceuticals Inc. after its Phase 2 study of Ifenprodil.
After we went for Algernon Pharmaceuticals Inc. (AGN:CSE; AGNPF:OTCQB; AGN0:XFRA) in the middle of the month there was a bullish very high volume up day.
But after that, it drifted back down to the low of the high volume bullish candle on lighter volume where it was viewed as a strong buy again, especially as the company came out with very good news this morning that the data from its Phase 2 study of Ifenprodil is much better than expected.
This is thought likely to get the stock moving again, and so we are considered to be at another good buy spot here.
Algernon is rated a Strong Buy again here.
Algernon Pharmaceuticals website
Algernon Pharmaceuticals Inc. closed at CA$3.02, $2.47 on July 27, 2022.
The above represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.
1) Clive Maund: I, or members of my immediate household or family, own securities of the following companies mentioned in this article: None. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Algernon Pharmaceuticals Inc. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Algernon Pharmaceuticals Inc. Please click here for more information.
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