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New York, NY -- (SBWIRE) -- 09/13/2013 -- Avanir Pharmaceuticals (NASDAQ:AVNR) fell 16.6 percent to $4.16 with 10,751,400 shares traded. After being in contact with management, Summer Street says Avanir "vehemently" denies the allegations made yesterday by Gravity Research. The firm reiterates a Buy rating on the stock with a $17 price target. The average volume for AVANIR Pharmaceuticals has been 2.4 million shares per day over the past 30 days. AVANIR has a market cap of $804.4 million and is part of the health care sector and drugs industry. The stock has a beta of 0.84 and a short float of 19.4% with 4.39 days to cover.
Is AVNR a Buy After Today’s News? Let’s Find Out Here
Galena Biopharma Inc. (NASDAQ:GALE) fell 16.2 percent to $1.91 with 14,354,800 shares traded. Galena Biopharma Inc reported today that it has priced an underwritten public offering of 17.50 million shares at $2 per share. Galena Biopharma is anticipating net proceeds of $35 million from this offering, which is expected to close on 18th September, subject to usual closing conditions.
How To Trade GALE After The Recent Momentum? Find Out Here
Dendreon Corporation (NASDAQ:DNDN), traded 2.90 million shares in the last business day while the average volume of the stock remained 5.42 million shares. The 52 week range of the stock remained $2.69 – $7.22. The stock showed a positive movement of 2.31% to end at $3.10. The market capitalization of the stock remained 488.88 billion. Additionally, the company on August 8 reported results for the second quarter ended June 30, 2013. Net loss in the second quarter of 2013 was $68.8 million, or $0.45 per share, compared to a net loss of $96.1 million, or $0.65 per share for the same period in 2012.
How To Trade DNDN Now After The Recent Volatile Moves? Find Out Here
Prana Biotechnology Limited (ADR) (NASDAQ:PRAN) stock dropped 17.89% to $4.06. The company on Sept. 13 provided an update on three clinical trials testing its proprietary drug, PBT2, in Alzheimer’s and Huntington’s diseases. The Reach 2HD trial is a six month double-blind placebo controlled Phase 2 trial on 109 early-to-mid stage Huntington’s disease patients. The trial was successfully completed at the end of July 2013 with 95% of participants completing the entire six months of treatment.
How Should Investors React To PRAN Now? Find Out Here
Nanosphere, Inc. (NASDAQ:NSPH) is down 8.9% today at $1.83. Shares are taking a hit after the company announced a 15 million share offering at $1.75. Proceeds will go towards working capital. NSPH stock is now 23.41 percent below its 50-day moving average and 27.73 percent below its 200-day moving average. NSPH stock is 55.23 percent below its 52-week high and 16.86 percent below its low point for the past 52 weeks.
What Should Investors Do With NSPH Now? Find Out Here
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