NEW YORK ( TheStreet) -- Achillion Pharmaceuticals (ACHN) was one of several stocks trading near $5 poised to move on above-average volume Wednesday after the company announced positive results for its hepatitis C drug.
Achillion Pharmaceuticals jumped nearly 20% in Tuesday's after-hours session after the company said Phase 1b clinical trial data showed its ACH-1625 treatment in third and fourth patient cohorts achieved "meaningful reductions in HCV RNA after five-day monotherapy, with continued safety and tolerability in patients with hepatitis C."
Shares of Achillion closed Tuesday at $2.36 and rose to $2.81 in late trading. The 50-day average daily share volume for Achilion is 225,000, according to the Nasdaq.
Elsewhere, SMTC Corp. (SMTX) jumped by 55 cents, or 15.3%, to $4.15 in the premarket session after the electronics manufacturing services provider reported first-quarter earnings from continuing operations of 14 cents a share, compared with a year-ago loss of 6 cents a share. The 50-day average daily volume for SMTC is 379,000.China Wind Systems (CWS) was also poised to trade sharply higher Wednesday after the company said it anticipates full-year revenue in a range of $76.5 million to $85 million and earnings before interest, taxes, depreciation and amortization, or EBITDA, of $22.7 million to $25.2 million. That compares to 2009 revenue of $53.5 million and EBITDA of $11 million. China Wind Systems said it is now expects stronger sales of precision forged products used in large wind turbines in 2010. Shares closed Tuesday at $3.77 but rose nearly 18% in late trading. The three-month average daily volume for China Wind Systems is 80,000, according to Yahoo! Finance.
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