Shares of the Company are up almost 35% on news that the FDA approved its gout treatment. "The FDA approved Savient's Krystexxa for the treatment of hard-to-treat gout in adults." as reported by Marketwatch and a flood of other news agencies. I've looked at the price target increases and they are up HUGE across the board today. They range from $22 to $26/share on speculation that SVNT is a prime takeout opportunity from some of the larger players.
I'm taking a particular interest in the Jan 2011 22.5 strike currently trading at $1.26 and the Jan 2011 25 strike at $0.55. I think that SVNT has some more room to run (even if it is not taken out) and could see some more positive momentum over the next few days pushing the pricing of these calls higher.
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