Strength Seen in Dyax Corp (DYAX): Stock Rises 12.2%
Dyax Corp. DYAX was a big mover last session with its shares rising over 12% on the day. The upside was owing to the company’s announcement that the U.S. Federal Trade Commission has ended the antitrust waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, applicable to the company's acquisition by Shire PLC. The potential $6.5 billion deal was announced in early November. This latest development led to far more shares changing hands yesterday than in a normal session. The move continues the recent uptrend of the company as the stock has gained over 6% in the past one-month time frame.
This biopharmaceutical company has seen one positive estimate revision in the last 30 days. The Zacks Consensus Estimate has, however, remained unchanged. Yesterday’s rally is encouraging though, so make sure to keep a close watch on this firm in the near future.
Dyax currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
Investors interested in the biomed/gene space may consider Baxalta Inc. BXLT which sports a Zacks Rank #1 (Strong Buy).
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