Shares of Savient Pharmaceuticals (Nasdaq:SVNT) were gapping down Wednesday morning with an open price 11.9% lower than Tuesday's closing price. The stock closed at $2.53 yesterday and opened today's trading at $2.23.
NEW YORK ( TheStreet) -- Shares of Savient Pharmaceuticals (Nasdaq: SVNT) were gapping down Wednesday morning with an open price 11.9% lower than Tuesday's closing price. The stock closed at $2.53 Tuesday and opened today's trading at $2.23. The average volume for Savient has been 1.6 million shares per day over the past 30 days. Savient has a market cap of $168.7 million and is part of the health care sector and drugs industry. Shares are up 13.5% year to date as of the close of trading on Tuesday. Savient Pharmaceuticals, Inc. operates as a specialty biopharmaceutical company in the United States. It engages in developing and commercializing KRYSTEXXA for the treatment of chronic gout in adult patients refractory to conventional therapy. TheStreet Ratings rates Savient as a sell. The company's weaknesses can be seen in multiple areas, such as its weak operating cash flow, generally disappointing historical performance in the stock itself and generally weak debt management. You can view the full Savient Ratings Report. Get more investment ideas from our investment research center. Interested in other stocks that are gapping down? Get free SMS text alerts sent to you when the action happens by texting DOWN to 95370 or select from multiple alert options.