Buyout Buzz Boosts Fibrocell Science Stock

FCSC is eyeing its highest close in over a year

Digital Content Manager
Sep 13, 2019 at 9:31 AM
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The shares of Fibrocell Science Inc (NASDAQ:FCSC) are booming on a buyout deal from Castle Creek Pharmaceutical. The privately held company has agreed to acquire Fibrocell Science for about $63.3 million. In response, the penny stock has tacked on 60.1% to trade at $2.93, eyeing its highest close in over a year. 

On the charts, FCSC has been trading between $1.70 and $2.10 for the better part of 2019, with two brief breakouts capped by the stock's 320-day moving average in late March and early April. The stock is trading well atop this trendline today, though it's still well below the all-time high of $862.50, hit back in 2009. 

Only two analysts follow the stock, but both in coverage are extremely bullish, giving FCSC a "buy" or better rating. What's more, the 12-month consensus price target of $15 hasn't been touched by the equity in nearly two years. 

Interestingly enough, short interest just dropped to a one-year low, down 30% in the last two reporting periods. The 518,836 shares sold short still account for a healthy 5.3% of FCSC's available float, however, and would take over two weeks to cover, at the security's average pace of trading. 

 

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