Natco Pharma Jumps The Most In A Week After ICICI Securities Upgrades Stock To ‘Buy’

Shares of Natco Pharma Ltd. rose nearly 9%, the biggest advance in over a week to Rs 919.5 apiece.

  • Trading volume was over 10 times the 30-day average volume at this time of the day.
  • ICICI Securities raised the stock to ‘buy’ from ‘add’ with the price target maintained at Rs 1,021 apiece; an implied return of 20.92%.
  • The company launched first generic version of Revlimid (Lenalidomide) capsules, in the U.S. market. The drug is prescribed for the treatment of anemia in patients with myelodysplastic syndrome. Patients with this syndrome have very low RBC counts.

Source: Bloomberg, Exchange Filing, Brokerage note

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