Filed under: Major movement, Good news, Law, Options, Technical Analysis
Barr Pharmaceuticals Inc. (NYSE: BRL) shares are rising today after the company announced yesterday evening that a U.S. District Court ruled in favor of Barr, invalidating a patent protecting Bayer AG’s Yasmin oral contraceptive. If you think that the company won’t fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on BRL.
After hitting a one-year low of $45.41 in April, the stock hit a one-year high of $58.38 in November. BRL opened this morning at $49.07. So far today the stock has hit a low of $48.45 and a high of $49.99. As of 12:30, BRL is trading at $49.75, up $4.08 (8.9%). The chart for BRL looks neutral and steady while S&P gives BRL a positive 4 STARS (out of 5) buy rating.
Continue reading Barr Pharma rises with favorable court ruling
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