Juno Therapeutics Adds To Monday's Gain After Wedbush Upgrade

Juno Therapeutics Inc JUNO shares are trading higher by $7.52, or 20 percent, at $44.00 in Tuesday's session. This comes on top of Monday's gain of $5.75, instigated by Gilead Sciences, Inc. GILD's take over of Kite Pharma Inc KITE at a 30 percent premium to closing price Friday.

The catalyst for Tuesday's rally is an upgrade from Wedbush, who changed their rating from Neutral to Outperform.

After a flat open, it immediately found support just above Monday's closing price ($36.48), only reaching $36.50 before embarking on its major rally. The pace of the rally accelerated once it surpassed Monday's high ($37.50), so far reaching $44.32 as of 11:50 a.m. EST. That marks the highest level since it peaked on June 10, 2016, at $45.00.