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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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Diamonds and Dogs

9/15/14

Avanir 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.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.