AaiPharma Gains on FDA Action
Shares of up-and-down aaiPharma (AAII)went up Friday after the Food and Drug Administration approved its request for a broader application of its methadone product.
In late trading, the Wilmington, N.C.-based company's stock gained 97 cents, or 5.2%, to reach $19.67. The stock had risen as high as $19.90.
Analysts said Friday that although methadone is not a big contributor to aaiPharma's sales, the FDA's action comes several months earlier than had been expected. The company's injectable version of methadone is used to treat moderate to severe pain in patients for whom non-narcotic analgesics are ineffective and to temporarily treat opiate-dependent patients who can't take pills.
The company's stock has been on a mostly downward plunge in recent days due to disappointing financial results, some analysts' concerns about inventories, the faster-than-expected FDA approval of a competitor's generic version of an aaiPharma painkiller, and the departure of the company's chief operating officer for the CEO job at another drug company.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV