A friend (thanks Brian) just mentioned two biopharmas that he is trading. The first is Targacept (TRGT), which is working on drugs to treat central nervous system disorders. The stock closed at $8.84 yesterday (up from $2 nine days ago).
The other stock he mentioned is Dyax Corp. (DYAX). Dyax is a biopharma company working on Oncology (cancer) treatments. The stock closed yesterday at $3.72, up from $2 a month ago.
Both of these stocks are extended, so be careful if you decide to trade them. And, as always, do your homework. Just because I or anyone else mentions a stock does not mean you should rush out to buy it.
Incidentally, I don't normally look at penny stocks, except at the bottom of major bear markets (like right now). But then, before this bear market Citibank was not a penny stock!
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