Hikma Pharmaceuticals Shares Extend Winning Run to Seven Sessions, Longest Since 2023
Hikma Pharmaceuticals shares rose for a seventh consecutive session on Monday, closing at 1611.0p on the London Stock Exchange, the specialty and generic drugmaker’s longest run of gains since 2023.
Hikma Pharmaceuticals (LON: HIK), the specialty and generic drugmaker, closed up 0.69% at 1611.0p on Monday, a seventh straight session of gains. The FTSE 350 healthcare stock traded between 1585p and 1630p before settling at that level, on volume of 307,519 shares, well below its 20-day average of 516,861.
A winning streak of this length simply means the stock has closed higher than the previous day’s close on each of the last seven sessions, a signal traders watch as a sign of sustained buying interest rather than a single sharp move.
The lighter-than-average volume behind Monday’s gain suggests the advance was not accompanied by a particularly heavy turnover of shares, even as the price continued to grind higher.
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The close leaves the shares 9% below their 52-week high and 41.5% above their 52-week low, up 8.7% year to date. That range underlines how far the stock has recovered from its weakest point over the past year, even as it remains some way short of retesting its 52-week peak. Hikma’s market capitalisation stood at £3.2 billion as the run extended into a seventh session.
Hikma Pharmaceuticals daily price change over the past 45 sessions, highlighting its 7-session winning streak.
How unusual this is
Across more than 320 sessions of history dating back to September 2021, Hikma’s longest winning streak ran to 10 sessions, a run that ended on 20 April 2023. The current seven-session streak is the stock’s longest since then, though it remains short of that record by three sessions.
Streaks of this length are uncommon for the stock, making the current run a notable, if not record-breaking, stretch of consistent gains.
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This same signal — a winning streak of at least seven sessions — was also flagged for Hikma on Thursday 17 September.
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