Printer Friendly

Elan shares hit new 52-week high.

Elan Shares Hit New 52-Week High. U.S. shares of Elan Corp. rose to a new 52-week high last week after Goldman Sachs reiterated a positive rating on the Irish drugmaker amid optimism surrounding its Alzheimer's disease treatment. American depositary shares of Elan rose $2.30, or 12% over the week, to $21.50 on more than double their usual weekly volume. Shares previously traded between $11.70 and $20.68 over the past year. At Goldman Sachs' Annual Healthcare Conference Wednesday, Elan affirmed it will start late-stage clinical trials for Alzheimer's drug bapineuzumab within the next 12 months, as well as begin the marketing application filing process with the Food and Drug Administration. Goldman called this outlook "conservative" and reiterated its "buy" rating and $25 price target for the stock.
COPYRIGHT 2007 MedContent Media, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2007 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:CORPORATE
Article Type:Market share report
Date:Jun 18, 2007
Previous Article:Bristol-Myers ends 2-year federal probation.
Next Article:Kinetic Concepts Inc. (San Antonio TX), which makes wound care products, won approval for a broad range of uses for two of its products.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters