Rocket Stocks for the Week

International Coal(ICO Quote): Up 40% after beating estimates by 4 cents.

Even after last week's move, this week's Rocket Stocks portfolio offers some very interesting snapback ideas.

For example, biotech company Enzon Pharmaceuticals(ENZN Quote) has fallen from a high of $10 per share to its current $5 per share. There are two activist investors in the company, Carl Icahn and DellaCamera Capital, both of whom are pushing the company to sell parts of Enzon.

In fact, in a recent letter to management, DellaCamera said: "At the Company's recent stock price of $6.42 per share, Enzon's equity market capitalization is approximately $290 million. As you may recall, we have previously calculated Enzon's remaining 75% stake in its PEG-Intron royalty stream to be worth $300 million alone! In addition, the Company had over $190 million of cash and marketable securities as of June 30, 2008 which Enzon could easily tap to implement a share repurchase program, particularly in light of the Company's undervaluation. Indeed, every share that is bought at a discount to intrinsic value makes every remaining share worth more; at current prices, Enzon could repurchase more than half of its outstanding shares with just this existing cash".

Since writing this letter on Oct. 6, shares of Enzon have fallen an additional 25%.

An additional positive going forward is that Enzon's Oncaspar-IV cancer drug, which treats actue lymphoblastic leukemia, received orphan drug status in the EU. According to Enzon, this will "block rival versions of the drug from the market for 10 years if regulators approve Oncaspar-IV for sale." While this is not a game changer, there have been rumors that the company might sell the drug off to a larger European-based drug marker.