Elan Corp (NYSE: ELN) NewsBite - ELN Drops on Drug Trial Problems
Posted: Thursday, April 02, 2009 11:50 AM EDT
By: Market Intelligence Center Staff
Elan Corp (NYSE: ELN) opened at $6.29. So far today, the stock has hit a low of $6.21 and a high of $6.54. ELN is now trading at $6.36, down $.22 (-3.36%). The stock hit its 52-Week high of $37.45 in July and set its 52-Week low of $4.85 in the past month. Elan is falling today along with Wyeth (WYE) after the two companies announced they were stopping trials at the highest dosage of their new Alzheimer's drug, due to increased patient risks. Technical indicators for the stock are neutral and S&P gives ELN a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on ELN the stock seems like it could be a candidate for a July out-of-the-money bear-call credit spread above the 10 range. [ABR-Seven Summits Strategic Investments NewsBite]
CLICK HERE: FREE Elan Corp (ELN) Stock ReportSee what our analysts have uncovered about Elan Corp (ELN).
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