Trader’s Alert – Dyax Corp, Boeing, Tyco



Dyax Corp (NASDAQ:DYAX) shares rose 8.1% to $10.99, their highest price since mid-2004, after positive Phase 1a study results of DX-2930, a treatment for hereditary angioedema attacks.

The first-in-human clinical study of DX-2930 met all objectives of assessing safety, tolerability and pharmacokinetics and showed it well tolerated at all dose levels.

Pharmacokinetic results demonstrated that DX-2930 has linear, dose-dependent exposure and a mean elimination half-life of 17 to 20 days across dose groups, following a single injection to healthy subjects.

The company said the results of the Phase 1a study support advancing the DX-2930 development program into a Phase 1b study mid-2014.

Separately, today analysts at Leerink Swann increased their price target on the company’s shares to $12.00 from $8.00, according to Ticker Report.

Shares of Boeing (NYSE:BA) edged up Wednesday, after the aerospace company said it won a $2.4 billion contract from the U.S. Navy for 16 P-8A Poseidon aircraft.

The Poseidon will enter full production under the deal after having been at a preliminary low-rate production. It will take the total fleet to 53.

Boeing noted the Navy plans to purchase 117 P-8As to replace its P-3 fleet.

BA edged up 0.8% in recent trading to $127.81. It has a 52-week range of $75.14 to $144.57.

Tyco International (NYSE:TYC), which has businesses ranging from electronic security and alarm monitoring to fire-fighting equipment, has named private-equity firm Carlyle Group as the preferred bidder for its South Korean unit ADT Caps, the Korean Economic Daily reports.

The division is valued at $1.58 billion.

Tyco shares were up about 0.2% early in Wednesday’s session.

ADT Caps provides integrated security systems and video surveillance.

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