Forest Laboratories (FRX) NewsBite - FRX Rises on Study Results
Posted: Tuesday, November 03, 2009 11:05 AM EDT
By: Market Intelligence Center Staff
Forest Laboratories (NYSE: FRX) opened at $28.90. So far today, the stock has hit a low of $27.66 and a high of $28.95. FRX is now trading at $27.94, up $0.46 (1.67%). Over the last 52 weeks the stock has ranged from a low of $18.37 to a high of $30.56. Shares of FRX are rising today after the company announced positive results from two separate Phase 3 trials of its investigational drug linaclotide in patients with chronic constipation. FRX is developing the drug with Ironwood Pharmaceuticals, Inc. Technical indicators for the stock are neutral and S&P gives FRX a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on FRX the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 25 range. [ABR-Seven Summits Strategic Investments NewsBite]
CLICK HERE: FREE Forest Laboratories (FRX) Stock ReportSee what our analysts have uncovered about Forest Laboratories (FRX).