Elan Corp (NYSE: ELN) NewsBite - ELN Lower on Tysabri problems
Posted: Monday, June 29, 2009 9:59 AM EDT
By: Market Intelligence Center Staff
Elan Corp (NYSE: ELN) opened at $7.37. So far today, the stock has hit a low of $7.06 and a high of $7.49. ELN is now trading at $7.11, down $.25 (-3.4%). The stock hit its 52-Week high of $37.45 in July and set its 52-Week low of $4.85 in March. ELN is lower today after Biogen (BIIB) reported another serious brain infection in a patient being treated with Tysabri. Tysabri is a MS drug whose revenues are shared by BIIB and ELN. 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 an August out-of-the-money bear-call credit spread above the 9 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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