posted
Acor blasted up after a ms treatment. Yesterday up almost 300% and now today 30%. Wish i woulda bought in instead of just watching to see what it would do...
-------------------- There are 10 types of people in this world, those who can read binary, and those who cannot. Posts: 49 | From: Milwaukee, Wisconsin | Registered: Sep 2006
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AP Ahead of the Bell: Acorda Therapeutics Friday September 29, 8:50 am ET Acorda Therapeutics Rises in Pre-Market After Surging All Week on MS Drug Trial Data
NEW YORK (AP) -- Shares of Acorda Therapeutics Inc., which have quadrupled this week on positive data on the company's multiple sclerosis treatment, rose sharply in Friday pre-market trading, helped by a PiperJaffray upgrade.
ADVERTISEMENT click here Shares rose $1.65 cents, or almost 19.1 percent, to $10.30 on the INET electronic exchange, after closing at $8.65 Thursday on the Nasdaq. The stock has traded between $2.20 to $11.90 since it went public at $6.17 on Feb. 10.
The biotech stock nearly tripled Monday and continued its surge Tuesday to set a new 52-week high. Acorda said Monday its multiple sclerosis treatment successfully improved patients' walking ability in a late-stage clinical trial.
Analyst Caroline Y. Stewart upgraded the stock to "Outperform" from "Marketperform" and lifted her target price to $14 from $6.50.
In a note to clients, she said she expects the new drug, called Fampridine-SR, will need additional testing, which could take a year. But she said doctors have indicated they want to try the drug in a broad MS patient population, not just in patients with walking disabilities.
Stewart forecasts total peak market opportunity for Fampridine-SR of $300 million.
-------------------- One risk I enjoy: daytrading stocks Posts: 273 | From: New York City | Registered: Sep 2004
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posted
Nice bounce from the bottom we have here today. The analysts upgrade and all the exposure in the media is proving to be quite a fuel for the stock. The rest of the week will catch this at a new high, IMO. The momo has not left the stock and will not for a while.
-------------------- Best Regards and Good Trading Posts: 239 | From: Florida City, FL | Registered: Jul 2006
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