Diamonds and Dogs
9/15/14Avanir Pharmaceuticals Inc. (AVNR)
Avanir Pharmaceuticals skyrocketed today up 85.31% to $12.49 after announcing positive phase 2 trial results for their drug AVP-923. The drug showed better results than the placebo in treatment of agitation in patients with Alzheimer's disease. The good news led analysts from Piper Jaffray to raise their price target from $13 to $17, and analysts from Cowen increased their target from $9.90 to $12. The company jumped up $5.75 and set a new 52-week high of $13.09 intraday.
Tesla Motors Inc. (TSLA)
Telsa Motors veered off the road today, down 9.08% to $253.86. The automotive company saw its shares crash after Morgan Stanley analysts cautioned investors that the stock looks over-valued. Making matters worse, was CEO Elon Musk also stating last week that he felt the stock was a little ahead of itself. Both statements hit Tesla's stock hard and drove it down $25.34 a share. Shares are still trading in the upper half of their 52-week range of $116.10-291.42.