Shares of Biocon rose nearly 3% after the company’s subsidiary Biocon Pharma received approval for its ANDA for Posoconazole delayedrelease tablets from the U.S. FDA.
The tablets are indicated for use in prevention of fungal infections in patients with weakened immune systems.
Trading volume on the stock was four times the 30-day average volume at this time of the day.
Bernstein maintained ‘market perform’ on the stock with the target price kept unchanged at Rs 328, an implied return of -19.57%.
Of the 21 analysts tracking the company, 10 maintain ‘buy’, six recommend ‘hold’ and five suggest ‘sell’. The overall consensus price of analysts tracked by Bloomberg imply a downside of 2.9%.
Source: Exchange Filing, Bloomberg
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