High flyer.American Pharmaceutical Partners Inc. continues to be a high flyer High flyer High-priced and highly speculative stock that moves up and down sharply over a short period. Generally glamorous in nature due to the capital gains potential associated with them; also used to describe any high-priced stock. Antithesis of sleeper. two weeks after the company received approval from the Food and Drag Administration to market its proprietary cancer drug, Abraxane. The stock was still trading above $50 a share last week, a big jump from the $38.71 close on Jan. 7, just before the news about the FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. decision was released after the market closed. While there has been some profit taking since the stock closed at a high of $54.25 on Jan. 13, analysts covering the Schaumburg, Ill. company remain bullish Bullish Word used to describe an investor's attitude. Bullish refers to an optimistic outlook, while bearish means a pessimistic outlook. bullish , rating it a buy. The company, controlled by Dr. Patrick Soon-Shiong, is expected to gross as much as $250 million in sales from the drug in 2006, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Wedbush Morgan Morgan, American family of financiers and philanthropists. Junius Spencer Morgan, 1813–90, b. West Springfield, Mass., prospered at investment banking. analyst Steven Gergen, who has raised his 12 month price target to $60. The stock dropped as low as $21.28 in the past 12 months on worries the cancer drug would not get FDA approval. Staff reporter Laurence Darmiento can be reached at (323) 549-5225, ext. 237, or at ldarmiento@labusinessjournal.com. |
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