Blog > Editor's Pic > Momentum stock pick: Inspire Pharmaceuticals, Inc. (NASDAQ:ISPH)
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Momentum stock pick: Inspire Pharmaceuticals, Inc. (NASDAQ:ISPH)

Posted June 6, 2008

isph chart

Baltimore — (TFN): After taking profits of up to 27% in two days on SQNM, today’s momentum stock pick is Inspire Pharmaceuticals, Inc. (NASDAQ:ISPH). The Durham, NC-based biopharmaceutical company today announced that the Phase 3 trial with Denufosol, a cystic fibrosis drug, achieved its primary endpoint. The news sent the stock up 53% in the pre-market activity.

It posted a morning high at $6.75 and is currently trading at just below $6.

If this were any other weekday than a Friday, we’d say buy below $6 and hang on for two or three days until the stock hits $7. Unfortunately, Fridays are days with poor Internet traffic, especially on financial sites. And traders hate hanging on to volatile positions over weekends.

If you have the guts and risk tolerance to do it, buy ISPH around $5.80-5.95, with a 20% rapid-turnaround profit target.

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Posted by J. Christoph Amberger · Filed Under Editor's Pic, US Stocks and Markets 

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