Thursday 03 Sep 2015

Astex Pharmaceuticals Inc. (NASDAQ:ASTX) up by 11.88%, Magnum Hunter Resources Corp (NYSE:MHR), SUPERVALU INC. (NYSE:SVU)

New York, NY – (NISMAGAZINE) – 04/03/2013- Astex Pharmaceuticals, Inc. (NASDAQ:ASTX) the stock is trading up by 11.88% close to $5.65. RBC Capital Mkts initiated its coverage on the stock and rated the stock to “Outperform”. ASTX announced that American Association for Cancer Research have accepted its thirteen abstracts related to internal and partner funded pipeline product data for oral presentation or poster. The stock have been heading northwards since past four months and has continued to maintain its momentum. The stock is trading above its 50 days moving average of $3.69, the RSI for the stock now standing at 83.38 indicating that the stock has moved into an overbought zone. With an average volume of 1.55 million; 3.94 million shares have exchanged hands in its current trading session. The market capitalization of the stock is $472.93 million; while its beta is 1.14.

How Should Investors Trade ASTX Now? Find out here.

Magnum Hunter Resources Corp (NYSE:MHR) is up by 3.94% and trading close to $3.96. MHR announced the sale of its 100% stake in Eagle Ford Hunter, Inc. to Penn Virginia Corporation (NYSE: PVA), for around $401 million. The transaction will be completed by $361 million in cash and the remaining $40 million in cash or shares of common stock valued at $4.00.  The transaction amount was 200 times the capital invested in the project. The property to be sold to PVA includes mineral leases on 19,000, 49 producing wells, 4 wells which are currently drilling and, 7 wells drilled and in their completion stage. The average production from the property sold was approximately 3,000 barrels. MHR retains its 7000 net acres in the Eagle Ford deposit. With an average volume of 3.52 million, 7.30 million shares have exchanged hands in its current trading session.

How Should Investors Trade MHR Now? Find out here.

SUPERVALU INC. (NYSE:SVU) is trading close to $4.83 up by marginally 0.42%. The stock has rallied and has continued to maintain its momentum; it is trading safely above its 50 days moving average of $4.13. SVU announced that in order to cut costs the company is eliminating jobs. SVU announced that Sam Duncan president and CFO finalized his executive leadership team. Sherry Smith CFO and executive VP will depart at the end of May. Karla Robertson was appointed as executive VP for legal. Karla Robertson will replace Todd Sheldon, executive VP, corporate secretary and general counsel. The short ratio in the stock is 8.94. The 52-week range for the stock is $1.68 and $6.78, the stock is trading 27.58% below its 52-week high. With an average volume of 6.69 million shares; 3.58 million shares exchanged hands in its current trading session.

Is SVU a solid investment at these levels? Find out here.


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Gale Wills

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