Human Genome (HGSI) Shares Spike as GlaxoSmithKline (GSK) Rumored to Have $30/Share Bid Ready
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Shares of the momentous Human Genome Sciences (Nasdaq: HGSI) are rallying sharply today amid a report in the UK's Daily Telegraph which stirs recent rumors that GlaxoSmithKline (NYSE: GSK) is eyeing the $2.6 billion biotech company as a potential takeover target.
According to the article, GSK is ready to offer Human Genome $30 per share. With the stock up nearly 11% to $19.03 today, the rumored offer would represent a 58% premium from today's price.
Notably, shares of Human Genome are seeing much heavier-than-normal trading volume today. The stock has already traded hands more than 9 million times, which compares to it's average daily volume of just 4.8 million shares.
According to the article, GSK is ready to offer Human Genome $30 per share. With the stock up nearly 11% to $19.03 today, the rumored offer would represent a 58% premium from today's price.
Notably, shares of Human Genome are seeing much heavier-than-normal trading volume today. The stock has already traded hands more than 9 million times, which compares to it's average daily volume of just 4.8 million shares.
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