InterMune Inc. (NASDAQ: ITMN) is soaring with more than a double on key news of its EMA recommendation of market ing approval in its idiopathic pulmonary fibrosis drug called Esbriet (pirfenidone). The full news and analysis is available at BioHealthInvestor.com in the quest for potential ten-baggers.
What traders need to know is that at 10:20 AM EST we have a gain of 106% at $29.50 and the 52-week trading range is $8.34 to $49.46. Even more noticed is a more than tenfold rise in average volume with 10.25 million shares having traded versus an average daily volume of about 944,000 shares.
The options volume, as you would expect, is now through the roof as well. There have been over 10,000 contracts traded in the JAN-2011 CALLS and over 11,000 of the JAN-2011 PUTS. The trading is elevated in teh April-2011 contracts as well.
Stay tuned, InterMune just got back on the map.