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Potential Buy Entry Alert to Watch PAR
Time Frame : Daily
Sector : Pharmaceuticals, Biotech and Life Sciences/Healthcare
Key Stats : $277.74 Million Market Cap, VWAP 1.46, ASX Ranking 465, 4 Week Av Turnover $859,265, Current Turnover (Intraday as at time of alert) $83,546.
Company Overview : Paradigm Biopharmaceuticals Limited (PAR) is an Australian biopharmaceutical company focused on repurposing the drug ‘pentosan polysulphate sodium’ (PPS) for the treatment of bone marrow edema. Paradigm is targeting addressable markets with the aim to use the shortened development pathway utilising repurposed drugs.
Broker Consensus : Not covered by a major broker
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PAR – Paradigm Pharmaceuticals Limited
PAR recently had a rights issue to raise capital at a price of $1.50 with price trading below there now. Once the selling from stale holders is complete, we expect to see the recent positive news on trials kick in and support new buyers. Price is extended into minor support around 1.45 with falling volume so we now want to see a rally with an increase in volume to build the higher low and push to the highs.
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Stock Code : PAR – Paradigm Biopharmaceuticals Limited
Company Website : www.paradigmbiopharma.com
Current Price : 1.455
Status : On watch for potential higher low and move up through 1.60
