Adventrx Pharmaceuticals ( ANX), a biopharmaceutical company, focuses on developing proprietary product candidates. This stock is trading up 4.6% at 60 cents per share in recent trading. Today's Range: $0.58-$0.63 52-Week Range: $0.45-$3.91 Volume: 1.1 million Three-Month Average Volume: 286,871 Shares of ANX are moving sharply higher today after Vista Partners updated its coverage on the stock, and maintains its 12-month price target of $3.50 a share. >>5 Stocks Under $10 Set to Soar From a technical perspective, ANX is jumping higher here with monster volume, and this stock has started to flirt with breakout territory above some near-term overhead resistance at 61 cents. Traders should now look for long-biased trades if ANX can manage to take out its 200-day moving average of 67 cents with high volume. Look for a sustained move or close above 67 cents with volume that's near or above 286,871 shares. If we get that action soon, a much bigger breakout will trigger once ANX takes out more past resistance at 69 to 72 cents with volume. Any high-volume move over those levels will set this stock up to trend back towards $1 to $1.16 in the near future. It's very possible ANX could hit $1.40 if it triggers high-volume moves over 72 cents and then $1.16.
In trading on Thursday, shares of Peregrine Pharmaceuticals Inc.'s 10.50% Series E Convertible Preferred Stock were yielding above the 12% mark based on its quarterly dividend (annualized to $2.625), with shares changing hands as low as $20.34 on the day. As of last close, PPHMP was trading at a 11.40% discount to its liquidation preference amount.