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Canadian Drug Maker Rounding Out Pattern.(B)(NASDAQ STOCKS IN THE NEWS)
Byline: CRAIG SHAW
Axcan Pharma gained ground on brisk volume the last two weeks to start building the right side of its 14-week base. The stock is back above its 50-day support line. Its up/down volume ratio of 1.6 shows robust upside trade the past 50 days.
The Quebec-based gastrointestinal drug maker topped second-quarter profit views by a penny a share last month on strong U.S. sales. It's grown revenue by double digits for at least a dozen straight quarters. Chief Executive Leon Gosselin said Axcan is looking for an acquisition to keep sales growth strong.
Axcan hopes its dyspepsia treatment ...
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