Does BioScrip Inc (BIOS) Have Any Gas After Forming This Bullish Wedge Up?

September 17, 2017 - By Peter Erickson

Investors sentiment decreased to 0.89 in Q4 2016. Its down 0.57, from 1.46 in 2016Q3. It is negative, as 18 investors sold BioScrip Inc shares while 29 reduced holdings. 16 funds opened positions while 26 raised stakes. 91.55 million shares or 0.99% less from 92.47 million shares in 2016Q3 were reported.
199,043 are owned by Parametric Assoc Ltd Llc. Hawk Ridge Ltd Partnership reported 340,429 shares. Ledyard Fincl Bank reported 4,000 shares. Blackrock Institutional Na holds 0% or 2.14 million shares. Boothbay Fund Mngmt Limited Liability has 36,455 shares. Wells Fargo & Mn, a California-based fund reported 112,456 shares. Tower Rech Cap Ltd Llc (Trc) reported 0% of its portfolio in BioScrip Inc (NASDAQ:BIOS). Citigroup Inc holds 113,178 shares or 0% of its portfolio. Gamco Invsts Incorporated Et Al invested 0.01% in BioScrip Inc (NASDAQ:BIOS). Vanguard Gp Incorporated, a Pennsylvania-based fund reported 4.38 million shares. Nationwide Fund Advsr, a Pennsylvania-based fund reported 77,922 shares. Deutsche Bank & Trust Ag has 2.73 million shares for 0% of their portfolio. Pioneer Invest Mgmt reported 280,320 shares. Moreover, Northern Tru has 0% invested in BioScrip Inc (NASDAQ:BIOS). Bank & Trust Of Ny Mellon has invested 0% in BioScrip Inc (NASDAQ:BIOS).

The stock of BioScrip Inc (BIOS) formed an up wedge with $2.80 target or 5.00 % above today’s $2.67 share price. The 7 months wedge indicates low risk for the $340.36 million company. If the $2.80 price target is reached, the company will be worth $17.02M more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 0.38% or $0.01 on September 15, reaching $2.67. About 1.34 million shares traded. BioScrip Inc (NASDAQ:BIOS) has declined 29.17% since September 17, 2016 and is downtrending. It has underperformed by 45.87% the S&P500.

Wall Street await BioScrip Inc (NASDAQ:BIOS) to release earnings on November, 6. Analysts forecast earnings per share of $-0.10, exactly $0.00 or 0.00 % from 2014’s $-0.1 EPS. After posting $-0.11 EPS for the previous quarter, BioScrip Inc’s analysts now forecast -9.09 % EPS growth.

BioScrip Inc (NASDAQ:BIOS) Ratings Coverage

Among 6 analysts covering BioScrip (NASDAQ:BIOS), 6 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. BioScrip had 10 analyst reports since August 11, 2015 according to SRatingsIntel. SunTrust downgraded BioScrip Inc (NASDAQ:BIOS) on Tuesday, August 11 to “Buy” rating. The rating was upgraded by SunTrust to “Buy” on Thursday, August 10. Dougherty & Company maintained BioScrip Inc (NASDAQ:BIOS) rating on Wednesday, August 12. Dougherty & Company has “Buy” rating and $4 target. The firm has “Buy” rating by Lake Street given on Tuesday, January 3. On Wednesday, August 9 the stock rating was maintained by Jefferies with “Buy”. The stock has “Buy” rating by Jefferies on Thursday, June 8. Jefferies maintained the stock with “Buy” rating in Tuesday, July 25 report.

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