Diamonds and Dogs
NephroGenex Inc. (NRX)
NephroGenex is skyrocketing today, up 204.09% to $14.14. The pharmaceutical company that focuses on kidney treatment saw its shares pop after it announced that its lead drug was found to be safe in a cardiac safety study. NephroGenex is evaluating the drug pyridorin in a late-stage trial in patients with diabetic nephropathy, a chronic and degenerative kidney disease caused by diabetes and often tied to heart disease. The company had previously noted possible concerns regarding cardiac safety with the drug, but those concerns are now put to rest. Shares of NephroGenex climbed nearly $9.50 today, and were up much higher early in the day when they reached a new 52-week high of $17.98.
Hercules Offshore Inc. (HERO)
Hercules has lost its strength today, down 2.94% to $0.99, capping off a horrendous 2014. The shallow off-shore drilling company is finishing a bad year on a down note, after starting the year at $6.74. Hercules has been hit by numerous sell-offs and downgrades; most recently. Global Hunter Securities lowered their price target from $0.90 to $.80. Shares of Hercules aren't any investor's hero this year and Jefferies analysts believe that even with the recent hit in offshore drillers, now is not the time to long. Shares of Hercules hit a new 52-week low of $0.97.