5 of Last Week's Biggest Winners
What's better than momentum? Mo' momentum.
Let's take a closer look at five of this past week's biggest scorchers.
Transcept Pharmaceuticals (NAS: TSPT)
Cumulus Media (NAS: CMLS)
Harleysville (NAS: HGIC)
MedQuist Holdings (NAS: MEDH)
Optimer Pharmaceuticals (NAS: OPTR)
Transcept Pharmaceuticals is still rolling. The biotech's stock more than doubled a week earlier, after revealing plans to resubmit its sleep drug for regulatory approval. The Food and Drug Administration had originally rejected Intermezzo, but the company feels that the regulatory agency's safety concerns are easy fixes.
Cumulus shares hit the clouds last week. The terrestrial radio giant lined up a new credit facility and completed its acquisition of rival Citadel Broadcasting this month.
Home and auto insurer giant Nationwide Mutual has its sights set on Harleysville, according to Bloomberg. The unconfirmed buyout chatter was enough to send Harleysville shares 24% higher on Friday, more than offsetting losses earlier in the week.
MedQuist climbed after the provider of integrated clinical documentation solutions juiced up its guidance. A good chunk of the improvement will come as a result of the recent M*Modal acquisition, but MedQuist also announced a share buyback plan.
Finally, we have Optimer. The drugmaker's stock hit a 52-week high after a Brean Murray analyst initiated coverage with a buy rating. The firm's price target on Optimer is $20.
It was a great week for these five stocks. Now let's see if they're up for an encore.
Which of these five stocks do you think will continue to move higher? Share your thoughts in the comment box below.
At the time this article was published Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.Longtime Fool contributor Rick Munarriz calls them as he sees them. He does not own shares in any of the stocks in this story. Rick is also part of theRule Breakersnewsletter research team, seeking out tomorrow's ultimate growth stocks a day early.