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AEterna Zentaris Up 6.6%, Shares Break Through Resistance (AEZS)

Published on Thu, 05/16/2013 - 12:25
By Peter Chu

AEterna Zentaris (NASDAQ:AEZS) is one of today's best performing low-priced stocks, up 6.6% to $2.08 on 2.8x average daily volume. Thus far today, AEterna Zentaris has traded 568,000 shares, vs. average volume of 204,000 shares per day. The stock has outperformed the Dow (6.6% to the Dow's 0.1%) and outperformed the S&P 500 (6.6% to the S&P's -0.0%) during today's trading.

Over the past year, AEterna Zentaris has traded in a range of $1.70 to $5.63 and is now at $2.08, 22% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 1.7%.

There is potential upside of 73.2% for shares of AEterna Zentaris based on a current price of $2.08 and an average consensus analyst price target of $3.60. The stock should hit resistance at its 200-day moving average (MA) of $2.50, as well as support at its 50-day MA of $1.91.

AEterna Zentaris Inc is a biopharmaceutical company focused in oncology and endocrine therapy. The Company's portfolio includes an orally-active inhibitor for multiple cancers, as well a product marketed for in vitro fertilization. AEterna Zentaris also develops and sells active ingredients, specialty chemicals, cosmetic, and nutritional products.

By Peter Chu
pchu@fnno.com