ABVC BioPharma Inc [NASDAQ: ABVC] traded at a high on Tuesday, posting a 21.90 gain after which it closed the day’ session at $1.28. The company report on March 26, 2024 at 8:30 AM that ABVC BioPharma Entered into a Global Licensing Deal of Vitargus with Licensing Income of $33.5M and Royalties up to $60M.
“We are thrilled to announce a new licensing deal that we believe will make our product available to more patients undergoing the tedious Vitrectomy procedure. This partnership underscores our commitment to providing patients with a better quality of life during and after the procedure,” said Dr. Uttam Patil, ABVC’s Chief Executive Officer. He added that through this exciting collaboration, ABVC has secured the distribution rights to a wide range of eye products from ForSeeCon, which he believes will provide a new avenue for revenue generation with access to an even broader audience. With this new licensing agreement in place, ABVC will continue to serve as the R&D partner of ForSeeCon to discover new pipelines for ophthalmic products. From better vitreous substitutes to various eyecare products, our platform remains dedicated to showcasing the best eyecare we can offer. ABVC will receive the first licensing payment of US$30,000,000 (cash/shares) within 30 days after executing the agreement. ABVC is entitled to another milestone payment of $3,500,000 in cash after the first useful fundraise and royalties of 5% of net sales, up to $60,000,000, after the launch of the Licensed Product. BioFirst is entitled to the same licensing fees and royalties as ABVC.
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The results of the trading session contributed to over 27295015 shares changing hands. Over the past one week, the price volatility of ABVC BioPharma Inc stands at 8.54% while the volatility over the past one month is 5.35%.
The market cap for ABVC stock reached $13.52 million, with 10.56 million shares outstanding and 8.23 million shares in the current float. Compared to the average trading volume of 1.78M shares, ABVC reached a trading volume of 27295015 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about ABVC BioPharma Inc [ABVC]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ABVC shares is $20.20 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ABVC stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
The Average True Range (ATR) for ABVC BioPharma Inc is set at 0.09, with the Price to Sales ratio for ABVC stock in the period of the last 12 months amounting to 90.11. The Price to Book ratio for the last quarter was 1.15, with the Price to Cash per share for the same quarter was set at 0.08.
How has ABVC stock performed recently?
ABVC BioPharma Inc [ABVC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 14.29. With this latest performance, ABVC shares gained by 3.23% in over the last four-week period, additionally plugging by 36.17% over the last 6 months – not to mention a drop of -79.02% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ABVC stock in for the last two-week period is set at 57.39, with the RSI for the last a single of trading hit 64.36, and the three-weeks RSI is set at 53.47 for ABVC BioPharma Inc [ABVC]. The present Moving Average for the last 50 days of trading for this stock 1.2613, while it was recorded at 1.1062 for the last single week of trading, and 1.9432 for the last 200 days.
ABVC BioPharma Inc [ABVC]: Deeper insight into the fundamentals
ABVC BioPharma Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.28 and a Current Ratio set at 0.28.
Earnings analysis for ABVC BioPharma Inc [ABVC]
With the latest financial reports released by the company, ABVC BioPharma Inc posted -0.06/share EPS, while the average EPS was predicted by analysts to be reported at -0.12/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 50.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ABVC.
Insider trade positions for ABVC BioPharma Inc [ABVC]
The top three institutional holders of ABVC stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ABVC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ABVC stock with ownership which is approximately 5.8325%.
