Syngene Touched New High; Acquires Strand Life’s Assets
Posted: Sep 22, 2016
The first of today’s trading session saw Syngene share price trading at its new high at Rs. 523.90. The stock volume spurted by more than 2.88 times.
Syngene, the contract research firm on Wednesday mentioned that it has acquired assets of Strand Life Sciences Pvt. Ltd associated to systems biology and pharma bioinformatics services, among others, for an undisclosed amount. As part of the deal between the two firms, Syngene is supposed to obtain the target dossier business and rights to next generation sequencing data analytics and Sarchitect platforms and Heptox. Jonathan Hunt, Syngene International CEO believes that Strand’s bioinformatics platforms not only complement their present integrated service platforms but also caters to the growing needs for bioinformatics and data analytic support of the customers.
Syngene share price surged over 5 per cent during today’s trading session on NSE today. The scrip opened at Rs. 510.05 from a previous closing of Rs. 480.55. The day’s low can be seen at Rs. 501.80.
He further added that given the vast volumes of genetic material sequence data that is being generated on a global scale, there is a rising focus on biological information management and data analytics in drug discovery and development. Syngene is thoroughly eyeing for new opportunities to extend its service offerings and plans to expand into areas including NGS, translational R&D, predictive toxicology and pre-emptive target validation services; all of these demand strong bioinformatics capabilities.
Vijay Chandru, Strand Life Sciences chairman and managing director opined that the deal with Syngene is going to give it access to technologies from Strand to form part of its integrated discovery service offerings. This transaction is also a chief measure for Strand to concentrate its energies on personalized medicine through clinical applications of all its genomics technologies.
Syngene reported in a statement that the deal will offer Syngene access to Strand’s patented Virtual Liver model and the NGS analytics platform. The Virtual Liver model has the ability to foresee the toxic effect of different drugs or chemicals on the liver (both rat and human) with the help of information from laboratory-based experiments earlier to actual testing on live animals or humans. Strand NGS is a unified platform that supplies analysis, management and visualization tools for next-generation sequencing data, the statement read. As per the Transparency Market Research, the global bioinformatics market was predicted at $2.3 billion in 2012 and is expected to reach a market size of $9.1 billion in 2018, at a compound annual growth rate of 25.4%.
So far, the total traded volume stands at 3,21,860 shares with a traded value of Rs. 1,644.19 lacs against its average volume for 20 days which stands at 151266. The 52 week low of Syngene share price is seen at Rs. 315.10 on 23rd Sept ’15.
Dynamic Levels has recommended Syngene as the top 500 shares considering its strong fundamentals and financials. The stock is good for investment and Dynamic Levels analysts and market experts are confident and positive that it has the capability to give good returns in the long run. The closest support and resistance level of the Syngene share price reads at Rs. 470.20 and Rs. 491.80 respectively.
The lower price band of the stock records at Rs. 576.65 while lower price band is at Rs.384.45. The market cap of the company amounts to Rs. 9611.00 (Cr) while the book value stands at 52.68. The P/E Ratio of the stock is recorded to be 40.55. The stock has an ADM or Average Daily Movement of 13.44.
To acquire information on the financials and fundamentals of the stock, please visit Syngene share price history.
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