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Mylan In Retrospect: Shares Down 4.1% Since Downgraded One Week Ago (MYL)

Published on Mon, 04/01/2013 - 09:13
By Robert Cotter

One week ago Mylan (NASDAQ:MYL) was downgraded from Outperform to Market Perform at Bernstein. The stock closed at $28.95, which is 4.1% lower than the price one week ago ($30.19).

Mylan, Inc. develops, licenses, manufactures, markets, and distributes generic, brand and branded generic pharmaceutical products and active pharmaceutical ingredients . The Company sells its products to wholesalers, distributors, retail pharmacy chains, mail order pharmacies, group purchasing organizations, and healthcare professionals.

In the past 52 weeks, shares of Mylan have traded between a low of $15.49 and a high of $31.22 and are now at $28.91, which is 87% above that low price. The 200-day and 50-day moving averages have moved 0.60% higher and 0.30% higher over the past week, respectively.

Potential upside of 12.8% exists for Mylan, based on a current level of $28.91 and analysts' average consensus price target of $32.60. Mylan shares should encounter resistance at the 50-day moving average (MA) of $29.30 and support at its 200-day MA of $25.69.

By Robert Cotter
rcotter@fnno.com