WuXi AppTec (OTCMKTS:WUXAY) Sees Large Volume Increase – Still a Buy?

Shares of WuXi AppTec Co., Ltd. (OTCMKTS:WUXAY) saw an uptick in trading volume on Monday . Approximately 10,262 shares changed hands during mid-day trading, an increase of 348% from the previous session’s volume of 2,290 shares.The stock last traded at $25.50 and had previously closed at $26.17.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of WuXi AppTec from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Strong Buy”.

WuXi AppTec Stock Down 2.6%

The stock has a 50 day simple moving average of $20.81 and a 200-day simple moving average of $17.40.

WuXi AppTec Company Profile

WuXi AppTec is a global contract research, development and manufacturing organization serving the pharmaceutical, biotechnology and medical device industries. Headquartered in Shanghai and founded in 2000, the company provides end-to-end solutions that span drug discovery, development and manufacturing. Its offerings enable customers to accelerate the research and development process for small molecules, biologics, cell and gene therapies, as well as medical devices.

Key services include chemistry and biology discovery support, preclinical safety assessment, analytical and formulation development, clinical manufacturing, large-scale biomanufacturing, and quality testing.