Allied Nevada Gold Corp (NYSEMKT:ANV) up by 10.33%, Raptor Pharmaceutical Corp (NASDAQ:RPTP)

Posted by Steve Raasch May 21, 2013 0 Comment 1482 views


Allied Nevada Gold Corp (NYSEMKT:ANV): In Monday’s trading session, Allied Nevada Gold Corp (NYSEMKT:ANV) gained 10.33%. Its opening price of $6.89 rose to touch an intraday high of $7.84 which eventually headed down to close at $6.89 per share. Over 3.98 million shares exchanged hands in the previous trading session. This number stood above the average volume of 3.12 million that was measured over a 30-day period.

Investors in ANV saw new options commence trading on Monday. These were for the July expiration. The put contract at a $7.50 strike price was bid at 75 cents. If any investor had sold-to-open that particular put contract, they would be committing to purchasing the stock at $7.50. But they will also be collecting the premium. This puts the cost basis of these shares at $6.75 (before the broker commissions). To any investor who is already interested in purchasing Allied Nevada Gold Corp (NYSEMKT:ANV) shares, this could prove to a very  attractive alternative to having to pay  $7.76 per share. ANV is a silver and gold producer who focuses on mining, developing and exploring properties in Nevada State.

Raptor Pharmaceutical Corp (NASDAQ:RPTP): In Monday’s trading session, Raptor Pharmaceutical Corp (NASDAQ:RPTP) gained 11.66%. Its opening price of $5.83 rose to touch an intraday high of $6.59 which eventually headed down to close at $5.81 per share. Over 1.51 million shares exchanged hands in the previous trading session. This number stood above the average volume of 0.779 million that was measured over a 30-day period.

Hardly under a month ago, Raptor Pharmaceutical Corp (NASDAQ:RPTP) shares were trading at a 52 week high of 7.67. This was in the wake of the news that the Food and Drug Administration had approved Procysbi, their nephropathic cystinosis drug. This twice a day medication is in direct competition with Mylan’s Cystagon. Unfortunately for the company, all the brouhaha surrounding the approval of its drug was a short-lived one. Investors took exception to RPTP’s projections of the peak sales of $60 million for Procysbi, in the U.S. Since the time Raptor Pharmaceutical Corp (NASDAQ:RPTP) hit the 52-week high on 30 April 2013, the RPTP share price dipped to a $5.50  low. However, they have now been steadily on the rise


About Steve Raasch

Steve Raasch is a breaking news reporter for GDP insider. During his nearly two decades of editorial experience, Steve has covered a variety of topics including small business, health, personal finance, advertising, workplace issues and consumer behavior. Steve is very passionate about his work. Steve earned a master of arts degree in international relations from the Johns Hopkins University School of Advanced International Studies in Washington.

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