SAR Share Price Forecast July 2021 – Time to Buy SAR?
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Shares of pharmaceutical company Sareum Holdings PLC (LSE: SAR) are in the green today, after soaring by 123% during the last couple of months. This astonishing data has made investors interested and they are wondering if it is a good time to purchase SAR shares.
Sareum Holdings PLC – Technical Analysis
According to the financial statement released by Sareum Holdings PLC, the company has a market cap of £223.302M while its total assets are worth £1.605M. The company’s revenue for 2020 was £47.20K while it was 0.00 in 2019. SAR shares closed on July 19 at £7.20 with an uptrend of 7.46%.
The technical information of SAR shares reveals that moving averages such as Exponential Moving Average (10)(6.87), Simple Moving Average (10)(6.99), Volume Weighted Moving Average (20)(6.66), and Simple Moving Average (20)(6.67) are pointing towards buying. Oscillators like Stochastic RSI Fast (3, 3, 14, 14)(15.85), Williams Percent Range (14)(-34.04), Bull Bear Power (0.64), and Ultimate Oscillator (7, 14, 28)(52.61) are pointing towards a neutral action.
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Recent Developments
As mentioned earlier, the SAR share price grew rapidly in 2021. The share prices were not doing well during the last ten years but they took an astonishing leap during the past 12 months. On January 7, 2021, Sareum Holdings PLC won patent approval in the United States for an invention related to the proprietary SCD-1802 Kinase Inhibitor Programme.
On June 15, 2021, the company announced that it has received about £1.5m for 30M shares. This cash is to be used to progress its drug development programmes of SDC-1801 and SDC-1802 TYK2/JAK1 Inhibitor.
The research on SDC-1801 and its therapeutic potential against Covid-19 started in December 2020 and the company plans to complete the research by the end of Q3 in 2021. Sareum clearly has a lot more to offer which could be interesting for investors.
Should You Buy SAR Shares?
From the point of view of an investor, there is a notorious risk of investing in any kind of drug development. There is never a 100% guarantee that a product will work. If Sareum fails in its researches, its shares may also go down. That being said, there is no doubt that it is a good investment at the moment. The shares were falling during the last week. However, it again took a turn on Friday when the shares went up by £6.78 from £6.30, and on Monday, £7.20. You can also get more insight from the technical information. All moving averages are pointing towards a buy action, while the oscillators are being neutral. So, it is a good time to invest in SAR shares for higher gains.
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