The offering is expected to close on or before June 13. AUXL stock price reacted very favorably to the news on Friday, posting a 7.44% gain up $1.08 to $15.59. AUXL was featured by Biotechinvestor.com just last week.
If you happened to buy this stock just last week in the mid-14’s you may want to take some profits and repurchase the stock at a later time. Although the stock price has plenty of room to move higher long-term, its near-term movement should hover around the $14.50 institutional sale price. So, be cautious in the near-term, but because the company seems poised for long term growth, I would be a buyer anytime the stock crosses significantly below the 14.50 institutional sale price.
- Auxilium Pharmaceuticals: Not Just a Scar Tissue Play
- Auxilium Completes Phase 3 Enrollment, Analyst Downgrades!