TBS International, Omega Flex and Life Partners Holdings lead small-cap percentage gainers
TBS International Ltd. (Nasdaq:TBSI), Omega Flex Inc. (Nasdaq:OFLX) and Life Partners Holdings Inc. (Nasdaq:LPHI) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.
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Also included among the results: Fundtech Ltd (Nasdaq:FNDT), Summit Financial Group Inc (Nasdaq:SMMF), Ares Capital Corp. (Nasdaq:SBP), First M&F Corp. (Nasdaq:FMFC) and Impax Laboratories Inc (Nasdaq:IPXL).
Penwest Pharmaceuticals falls on patent challengePenwest Pharmaceuticals (Nasdaq: PPCO) shares are down after the firm announced that Impax Laboratories Inc. (OTC: IPXL) is challenging the patent on Opana ER, Penwest’s pain drug. Impax seeks to make a generic version of Opana ER, Penwest said. On Wednesday, Jefferies & Co. downgraded the stock to "hold" from "buy" and lowered its price target to $31 from $37. "The company could face a scenario in which both of Endo's growth drivers suffer from generic competition as early as 2010," David Windley, a Jefferies & Co. analyst, wrote in a note to investors. American sales of Opana ER were about $42.9 million during the 52 weeks ended Aug. 31. In afternoon trading, Penwest (PPCO) shares are down 16.08%, or $1.82, at $9.50. Over the last 52 weeks, shares have ranged from $7.53 to $19.35. spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer spacer
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