Bind Therapeutics Rallies Off Oppenheimer Rating

shares were trading higher by $0.77 (15 percent) at $6.44 in Tuesday's session. The catalyst for the rally is the initiation of coverage by Oppenheimer with an Outperform rating along with a $14.00 price target. The clinical-stage nanomedicine platform company is developing targeted and programmable therapeutics called Accurins, recently announced an extension of a deal with Pfizer Inc to assist with the development of drugs in Pfizer's pipeline. That announcement failed to impressed investors as the issue only rallied from its April 2 ($5.52) to $5.67 on Monday. The Oppenheimer upgrade instigated a sharply higher opening (Monday's close of $5.67 vs. Tuesday's open of $6.35) with follow through to $6.65 before some profit-taking has taken the issue to its current level. The current intraday high coincides with a pair of highs in the issue from February 19 ($6.75) and February 20 ($6.69).