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Why These Two Biotech Stocks Blasted Higher This Week

Eric Volkman, The Motley Fool
·2 min read
Why These Two Biotech Stocks Blasted Higher This Week

Two somewhat under-the-radar biotech companies saw their share prices soar this week after agreeing to be acquired. CinCor Pharma (NASDAQ: CINC) is being bought out by deep-pocketed pharmaceutical company AstraZeneca, while Albireo Pharma (NASDAQ: ALBO) is set to be owned by France-based peer Ipsen. Both of these deals are very lucrative, to the point where CinCor's stock rocketed 146% over the course of the week, and Albireo shot 92% skyward, according to data compiled by S&P Global Market Intelligence.

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