BioMarin Halted and 4 Stocks Hitting 52-Week Highs
AcelRx Pharmaceuticals (NASDAQ:ACRX) moved up on word of top-line data which indicated that the open-label Phase 3 study of its investigational sublingual Sufentanil NanoTab patient-controlled analgesia System met its primary endpoint of non-inferiority in patient global assessment with a method of pain control in comparison to intravenous PCA with morphine. Further, additional analyses indicated that in this evaluation the NanoTab System was statistically significantly superior to IV morphine for the PGA measurement. Shares closed up 22.81 percent on the day at $3.93, having been traded in a 52-week range of $1.76 to $4.00.
BioMarin Pharmaceutical (NASDAQ:BMRN) shares were halted for volatility after soaring 3 percent to $49.44, but then closed down 0.5 percent on the day at $47.60, having been traded in a 52-week range of $30.06 to $49.52.
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BFC Financial Corporation (BFCF.PK) and Bluegreen Corporation (NYSE: BXG) have terminated their merger agreement of November 2011, and have now reached a definitive agreement through which the latter will be purchased in a cash transaction. Shares closed up 55.56 percent on the day at $8.96, but have traded in a 52-week range of $2.49 to $6.49.
Stage Stores (NYSE:SSI) estimates its fiscal year 2012 revenue between $1.633 billion and $1.646 billion, with a consensus of $1.64 billion. Shares closed down 1.02 percent on the day at $23.20, having been traded in a 52-week range of $11.21 to $26.00.
TPC Group (NASDAQ:TPCG) has received a revised non-binding expression of interest for purchase by Innospec (NASDAQ:IOSP), for a price of $47.50 per share in cash. The previous offer was between $44 and $46. Equity financing for the proposed purchase is expected to be provided by Blackstone Capital Partners VI, L.P., which is a fund managed by The Blackstone Group L.P. The offer is contingent upon due diligence and other customary procedures and approvals. Shares closed up 3.94 percent on the day at $47.78, and have traded in a 52-week range of $18.81 to $47.61.