WuXi AppTec (OTCMKTS:WUXAY) Sees Strong Trading Volume – Time to Buy?

Shares of WuXi AppTec Co., Ltd. (OTCMKTS:WUXAY) saw an uptick in trading volume on Friday. 54,913 shares changed hands during trading, an increase of 1,091% from the previous session’s volume of 4,612 shares. The stock last traded at $25.00 and had previously closed at $25.80.

Analysts Set New Price Targets

Separately, Zacks Research cut shares of WuXi AppTec from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

WuXi AppTec Price Performance

The firm has a 50 day moving average of $25.82 and a 200-day moving average of $20.48.

About WuXi AppTec

WuXi AppTec is a contract research, development and manufacturing organization (CRDMO) that provides services to pharmaceutical, biotechnology and medical-device companies. Its offerings span the drug-development process, including early-stage discovery, medicinal and synthetic chemistry, biology research, analytical testing, preclinical studies, clinical research support, process development and commercial manufacturing.

The company supports a broad range of therapeutic programs, with capabilities covering small-molecule drugs, biologics, chemical and pharmaceutical products, and cell and gene therapies.