Today, CEPH gapped up $5 in pre-market just on takeover rumors. Thousands of shares traded above 69. My question is: are all those prints real? Did someone really buy 20K+ shares at that price, just on a rumor, just to see it pretty much close the gap?
I can't answer your Q about the prints, but it doesn't fundamentally seem like a good investment as a bride - CEPH drugs are going Generic quick, so there is little upside. But in this environment, investment banks are roping in anyone with cash into a merger. In 2-3 years we'll see the negative efects of all these biotech / pharma mergers.