Cadence Pharmaceuticals (CADX) trades 13.1% lower after announcing a plan to sell $75M of common...

|By:, SA News Editor

Cadence Pharmaceuticals (CADX) trades 13.1% lower after announcing a plan to sell $75M of common stock on a market cap sitting south of $300M. Undeterred by the firm's new public offering of shares, Colins Stewart initiates coverage with a Buy rating and a lofty $7 price target.