Lincoln Pharma gains 5% on the back of Oral Spray Launch
Shares of Lincoln Pharmaceuticals soared nearly 5 per cent intraday on Friday after the company launched Ondansetron oral spray, which will be used for treating nausea and vomiting caused by surgery or cancer drugs, in India. The scrip gained 4.71 per cent to Rs. 247.85 on BSE. Ondansetron was previously available as tablet, syrup and injectable in India, as per the company’s filing made yesterday. It has “done bio-equivalent study for Ondansetron oral spray and has received the permission of the Drug Controller General of India (DCGI), it further added. Also, the product has been launched in the Indian market in two strength. Ondansetron is used to prevent nausea and vomiting which is caused by cancer chemotherapy, radiation therapy, and surgery.
This morning saw Lincoln Pharma share price zoom up by 5per cent. The stock opened with a rise of 10 points at Rs. 238.95 as compared to its previous closing at Rs. 236.80. The stock touched the days high and low at Rs. 247.80 and Rs.237.60,. Till now, 3,35,897 shares are traded in the counter with a traded value of Rs. 822.54 lacs, against its average volume for last 20 days seen at 448658, as per NSE. On 22nd Sept, the stock volume spurted by more than 1.76 times.
Lincoln Pharma is analyzed by Dynamic Levels as the top 500 performing stocks for the June quarter among the 1700 stocks which are listed on the NSE. Lincoln Pharma is fundamentally strong and is safe for investment, as per Dynamic analysts. The lower price band of the share is 188.65 and the upper price band is282.96. The 52 week high of Lincoln Pharma share price is observed at Rs. 305.45 on 6th Jan ’16 while the 52 week low is seen at Rs. Rs.127.3 on 26th May 16. The market cap of the company amounts to Rs. 386.24 (Cr) and has a book value of Rs. 82.76.In order to acquire further details on the support and resistance refer to Lincoln Pharma share price forecast.