Allos Therapeutics (ALTH) NewsBite - ALTH Upgraded By Wachovia

Thursday, December 04, 2008 1:24 PM EDT

Allos Therapeutics (ALTH) was upgraded today by analysts at Wachovia and the stock is now at $5.99, up $0.29 (5.09%) on volume of 661,940 shares traded. The brokerage upgraded the stock to "Outperform" from "Market Perform." Over the last 52 weeks the stock has ranged from a low of $3.82 to a high of $10.19. Allos Therapeutics stock has been showing support around $5.36 and resistance in the $6.18 range. Technical indicators for the stock are neutral and S&P does not currently have a STARS rating for ALTH. If you are looking for a hedged play on ALTH the stock seems like it could be a candidate for a December out-of-the-money bull-put credit spread below the 5 range. [ABR-Seven Summits Strategic Investments NewsBite]

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