Company Overview
Neimeth International Pharmaceuticals Plc is one of Nigeria’s oldest indigenous pharmaceutical manufacturers, with roots traced back to 1957 when it operated as the local arm of Pfizer Products Plc before the management buyout that led to its change of name to Neimeth in 1997. The company manufactures, markets, and distributes pharmaceutical and veterinary products across Nigeria and selected ECOWAS markets.
Current price: N9.25
Rating: Buy
Price projection: N15.56 (+68.27%) or N20.15 (+117.84%)
Technical Analysis
In this report, we shall use the following tools and analysis methods:
Elliott’s wave theory to understand the overall market sentiment
Fibonacci tools to determine support and resistance levels
The Relative Strength Index and volume to evaluate the market’s strength
The Money Flow Index to determine the market liquidity
Moving average and MACD to understand the nature of the trend
Top-down analysis to know the best investment position
Elliot wave analysis
Weekly chart: Market overview
The market moves in a 3-wave impulse, comprising three fractal waves each. Currently, the market is correcting within wave X of the higher degree. Plotting the Fibonacci retracement from the beginning and ending of Y of the smaller degree, the stock met a strong support at 0.618 of the Fibonacci sequence. Thus, the long-term investment position lies between N8.23 and N9.15
Daily chart: Investment opportunity
On the daily chart, the stock completed its ABC zig-zag correction. Thus, the market is recovering to commence another bullish run. A pullback would offer a good investment opportunity with a projection of N15.56 (+68.27%) or N20.15 (+117.84%)
Indicator analysis
Weekly chart: Market overview
On the weekly chart, the market volume and momentum are strong. Although money flow sustains its downward trajectory, it remains solid above its threshold. Also, MACD’s bearish momentum commenced its divergence signal. These performances signal market recovery and a potential bullish rally.
Daily chart: Investment opportunity
Money flow tilted upward, signalling an increase in market liquidity. Although the bullish volume is low, RSI’s momentum remains solid. Also, MACD’s bearish momentum signal divergence.
Fundamental Analysis
Financial report for the year 2025
Key insight: The financial rating for Neimenth is 84% following its return to profitability. Thus, the sector offers a long-term investment outlook
SWOT analysis
