Receptos Jumps After Globes Repeats Takeover Speculation

NEW YORK ( TheStreet) -- Shares of immune disorder focused biopharmaceutical company Receptos  ( RCPT) are moving higher in early trading after Israel's Globes said the company was reported to have turned down takeover offers from several of its larger drugmaking peers.

WHAT'S NEW: Israel's Globes, citing "several reports," said that AstraZeneca  (AZN) is considered the leading candidate to buy Receptos after the latter turned down a bid from the pharma major of $200 per share. Receptos reportedly said it would not consider an offer below $350 per share. Teva  (TEVA) and Gilead Sciences  (GILD) were reported to have offered $280 per share for Receptos, Globes noted.

WHAT'S NOTABLE: Globes' report from yesterday afternoon follows a very similar one from U.K. website Proactive Investors on June 9, which claimed that Receptos rejected multiple takeover bids. The validity of that website was called into question at that time. Of note, Proactive Investors named the same three suitors and exact same bid figures in its report.

PRICE ACTION: In early trading, Receptos shares are up $2.98, or 1.65%, to $183.50. Shares rose as high as $189.41 earlier in the session.

The Fly is a leading digital publisher of real-time financial news. Our financial market experts understand that news impacting stock prices can originate from anywhere, at any time. The Fly team scours all sources of company news, from mainstream to cutting-edge, then filters out the noise to deliver short-form stories consisting of only market moving content. Follow @theflynews on Twitter. For a free trial, click here.

If you liked this article you might like

Allergan and Celgene Are in Peak Health

3 Biotech Stocks to Buy Right Now

3 Biotech Stocks to Buy Right Now

Jim Cramer -- Avoid Caterpillar; Own PayPal, Under Armour

The Nominees for Best Biopharma CEO of 2015 Are...

A Biotech Believer; Does Manufacturing Still Matter?: Jim Cramer's Best Blogs